Nexa Resources (NYSE:NEXA) Shares Gap Up – Should You Buy?

Nexa Resources S.A. (NYSE:NEXA) shares gapped up prior to trading on Thursday . The stock had previously closed at $8.80, but opened at $9.36. Nexa Resources shares last traded at $9.08, with a volume of 61,603 shares.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $7.50 to $7.80 in a research note on Thursday, December 12th. Scotiabank reduced their target price on 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 assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.31.

Nexa Resources Trading Up 3.8 %

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 stock has a market cap of $1.21 billion, a price-to-earnings ratio of -6.05 and a beta of 1.52. The company’s 50 day simple moving average is $7.99 and its two-hundred day simple moving average is $7.41.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC grew its position in Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 341,792 shares of the company’s stock after purchasing an additional 12,092 shares during the period. Renaissance Technologies LLC owned about 0.26% of Nexa Resources worth $2,611,000 at the end of the most recent quarter.

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.