Nexa Resources (NYSE:NEXA) Shares Up 1.9% – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Scotiabank cut their target price on shares of Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating for the company in a research report on Monday, November 4th. Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $7.50 to $7.80 in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.31.

Nexa Resources Stock Up 1.6 %

The stock has a market capitalization of $1.18 billion, a P/E ratio of -5.89 and a beta of 1.52. The company has a current ratio of 1.13, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The firm’s fifty day moving average is $7.92 and its 200-day moving average is $7.38.

Institutional Trading of Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC raised its position in Nexa Resources S.A. (NYSE:NEXA) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 341,792 shares of the company’s stock after purchasing an additional 12,092 shares during the period. Renaissance Technologies LLC owned approximately 0.26% of Nexa Resources worth $2,611,000 as of its most recent filing with the SEC.

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.