Nexa Resources (NYSE:NEXA) Shares Down 6.6% – Time to Sell?

Nexa Resources S.A. (NYSE:NEXA)’s stock price was down 6.6% during trading on Tuesday . The company traded as low as $6.51 and last traded at $6.51. Approximately 21,605 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 155,821 shares. The stock had previously closed at $6.97.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NEXA. Scotiabank upped their price objective on shares of Nexa Resources from $5.75 to $7.00 and gave the stock a “sector underperform” rating in a report on Monday. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $7.56.

Nexa Resources Trading Down 6.7 %

The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. The company’s 50 day moving average is $7.94 and its 200 day moving average is $7.39. The stock has a market capitalization of $860.86 million, a price-to-earnings ratio of -4.30 and a beta of 1.48.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Renaissance Technologies LLC boosted its holdings in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,792 shares of the company’s stock after buying an additional 12,092 shares during the period. Renaissance Technologies LLC owned about 0.26% of Nexa Resources worth $2,611,000 as of its most recent SEC filing.

Nexa Resources Company Profile

Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business worldwide. The company operates in two segments, Mining and Smelting. It produces zinc, zamac, zinc oxide, and zincal, as well as by-products, such as copper, lead, silver, gold, copper sulfate, sulfuric acid, copper cementum, silver concentrate, slag aggregates, and cadmium/sponge deposits.