Nexa Resources (NYSE:NEXA) Shares Gap Up to $6.63

Nexa Resources S.A. (NYSE:NEXA)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $6.63, but opened at $6.80. Nexa Resources shares last traded at $6.95, with a volume of 3,671 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently commented on NEXA shares. Bank of America boosted their target price on shares of Nexa Resources from $7.50 to $8.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 26th. Morgan Stanley boosted their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the company an “underweight” rating in a research report on Friday, June 21st. BMO Capital Markets boosted their target price on shares of Nexa Resources from $7.00 to $7.50 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Finally, Scotiabank cut their price target on shares of Nexa Resources from $7.00 to $6.00 and set a “sector underperform” rating for the company in a report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.30.

Nexa Resources Stock Up 2.9 %

The company has a quick ratio of 0.78, a current ratio of 1.16 and a debt-to-equity ratio of 1.40. The business’s fifty day moving average price is $6.74 and its 200 day moving average price is $7.21. The firm has a market capitalization of $903.24 million, a PE ratio of -3.01, a PEG ratio of 0.25 and a beta of 1.53.

Nexa Resources (NYSE:NEXA) last released its earnings results on Thursday, August 1st. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $736.31 million during the quarter, compared to analyst estimates of $674.20 million. Nexa Resources had a negative net margin of 10.30% and a negative return on equity of 4.16%. During the same period last year, the business posted $0.04 EPS. On average, equities research analysts forecast that Nexa Resources S.A. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nexa Resources

A number of hedge funds have recently made changes to their positions in NEXA. Renaissance Technologies LLC increased its position in shares of Nexa Resources by 3.7% during the second quarter. Renaissance Technologies LLC now owns 341,792 shares of the company’s stock worth $2,611,000 after acquiring an additional 12,092 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Nexa Resources by 11.9% during the second quarter. Dimensional Fund Advisors LP now owns 593,983 shares of the company’s stock worth $4,538,000 after purchasing an additional 63,197 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Nexa Resources in the first quarter worth about $8,004,000.

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.