Nexa Resources S.A. (NYSE:NEXA) Short Interest Up 98.7% in August

Nexa Resources S.A. (NYSE:NEXA) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 213,844 shares, a growth of 98.7% from the July 30th total of 107,608 shares. Based on an average trading volume of 695,450 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the shares of the company are short sold.

Analyst Ratings Changes

Several equities analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexa Resources in a report on Monday, July 20th. Scotiabank boosted their price objective on shares of Nexa Resources from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Friday. Morgan Stanley upped their price objective on shares of Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Bank of America raised their target price on shares of Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 28th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $14.60.

Hedge Funds Weigh In On Nexa Resources

Large investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. acquired a new stake in Nexa Resources in the 2nd quarter worth $28,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Nexa Resources during the fourth quarter valued at about $36,000. Royal Bank of Canada raised its position in shares of Nexa Resources by 173.8% during the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock valued at $47,000 after buying an additional 2,784 shares during the last quarter. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Nexa Resources in the fourth quarter valued at about $44,000. Finally, Quantbot Technologies LP bought a new stake in shares of Nexa Resources in the second quarter valued at about $105,000.

Nexa Resources Stock Performance

NEXA traded up $0.08 during midday trading on Monday, reaching $13.43. The company’s stock had a trading volume of 552,544 shares, compared to its average volume of 928,739. The stock has a market cap of $1.78 billion, a P/E ratio of 6.43, a PEG ratio of 0.15 and a beta of 0.94. The company has a fifty day simple moving average of $13.52 and a 200 day simple moving average of $13.12. The company has a current ratio of 0.80, a quick ratio of 0.46 and a debt-to-equity ratio of 1.08. Nexa Resources has a twelve month low of $4.79 and a twelve month high of $16.89.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.07). Nexa Resources had a return on equity of 20.25% and a net margin of 8.02%.The business had revenue of $907.93 million during the quarter, compared to the consensus estimate of $906.52 million. Research analysts expect that Nexa Resources will post 2.59 earnings per share for the current year.

Nexa Resources Company Profile

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.