Nexa Resources (NYSE:NEXA) Sees Large Volume Increase – Here’s What Happened

Nexa Resources S.A. (NYSE:NEXA) saw an uptick in trading volume on Monday . 32,721 shares traded hands during mid-day trading, an increase of 5% from the previous session’s volume of 31,059 shares.The stock last traded at $7.90 and had previously closed at $7.88.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NEXA. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Scotiabank reduced their price objective on Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating for the company in a research note on Monday, November 4th. Two equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.31.

Nexa Resources Stock Performance

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 firm has a market cap of $1.05 billion, a price-to-earnings ratio of -5.25 and a beta of 1.52. The business’s 50-day simple moving average is $7.84 and its two-hundred day simple moving average is $7.36.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP boosted its position in Nexa Resources S.A. (NYSE:NEXA) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 593,983 shares of the company’s stock after purchasing 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.