Nexa Resources (NYSE:NEXA) Shares Gap Up – Still a Buy?

Nexa Resources S.A. (NYSE:NEXA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $5.43, but opened at $5.77. Nexa Resources shares last traded at $5.60, with a volume of 13,747 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $7.50 to $7.80 in a research report on Thursday, December 12th. Scotiabank dropped their target price on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.16.

Nexa Resources Stock Performance

The business has a fifty day moving average price of $6.75 and a 200-day moving average price of $7.06. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $697.95 million, a P/E ratio of -3.42 and a beta of 1.45.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). The company had revenue of $740.92 million for the quarter, compared to the consensus estimate of $731.81 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. On average, sell-side analysts expect that Nexa Resources S.A. will post 1.03 EPS for the current year.

Institutional Trading of Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC purchased a new stake in shares of Nexa Resources S.A. (NYSE:NEXA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,341 shares of the company’s stock, valued at approximately $126,000.

About Nexa Resources

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.