Nexa Resources (NYSE:NEXA) Trading Down 3.1% – Should You Sell?

Nexa Resources S.A. (NYSE:NEXA)’s stock price traded down 3.1% during trading on Wednesday . The stock traded as low as $5.99 and last traded at $6.01. 18,280 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 98,255 shares. The stock had previously closed at $6.20.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $7.50 to $7.80 in a research report on Thursday, December 12th. Scotiabank raised their target price on Nexa Resources from $5.75 to $7.00 and gave the company a “sector underperform” rating in a report on Monday, January 6th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.56.

Nexa Resources Stock Up 5.0 %

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 stock’s 50-day moving average is $7.71 and its 200-day moving average is $7.33.

Institutional Inflows and Outflows

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

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.