Nexa Resources (NYSE:NEXA) Trading Up 1.9% – Time to Buy?

Nexa Resources S.A. (NYSE:NEXA)’s stock price rose 1.9% during mid-day trading on Monday . The company traded as high as $8.99 and last traded at $8.92. Approximately 8,054 shares changed hands during trading, a decline of 74% from the average daily volume of 31,278 shares. The stock had previously closed at $8.75.

Analyst Ratings Changes

NEXA has been the subject of a number of recent analyst reports. Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Scotiabank lowered their price objective on shares of Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating for the company in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.31.

Nexa Resources Price Performance

The firm’s 50 day moving average is $7.97 and its 200 day moving average is $7.40. The firm has a market cap of $1.17 billion, a P/E ratio of -5.83 and a beta of 1.52. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP increased its holdings in Nexa Resources S.A. (NYSE:NEXA) by 11.9% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 593,983 shares of the company’s stock after buying an additional 63,197 shares during the quarter. Dimensional Fund Advisors LP owned about 0.45% of Nexa Resources worth $4,538,000 at the end of the most recent reporting period.

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.