Nexa Resources (NYSE:NEXA) Trading Up 9% – What’s Next?

Nexa Resources S.A. (NYSE:NEXA)’s share price rose 9% during mid-day trading on Thursday . The stock traded as high as $5.94 and last traded at $5.85. Approximately 46,975 shares were traded during trading, a decline of 1% from the average daily volume of 47,417 shares. The stock had previously closed at $5.37.

Analyst Ratings Changes

A number of equities analysts have recently commented on NEXA shares. Morgan Stanley raised 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 report on Thursday, December 12th. Scotiabank decreased their target price on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.16.

Nexa Resources Trading Up 11.2 %

The firm’s 50 day moving average is $6.85 and its 200 day moving average is $7.08. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. The company has a market capitalization of $790.66 million, a PE ratio of -3.95 and a beta of 1.45.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP increased its holdings in Nexa Resources S.A. (NYSE:NEXA) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 628,414 shares of the company’s stock after purchasing an additional 7,220 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.47% of Nexa Resources worth $5,531,000 as of its most recent filing with the Securities and Exchange Commission (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.