Nexa Resources (NYSE:NEXA) Shares Gap Up – Still a Buy?

Shares of Nexa Resources S.A. (NYSE:NEXA) gapped up before the market opened on Monday . The stock had previously closed at $5.43, but opened at $5.77. Nexa Resources shares last traded at $5.60, with a volume of 13,747 shares trading hands.

Analysts Set New Price Targets

Several research firms recently issued reports on NEXA. Scotiabank cut their target price on Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating for the company in a research report on Friday, February 7th. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Two 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.16.

Nexa Resources Stock Up 6.3 %

The business’s 50 day simple moving average is $6.69 and its 200 day simple moving average is $7.06. 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 firm has a market capitalization of $741.66 million, a PE ratio of -3.60 and a beta of 1.45.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($1.20). The company had revenue of $740.92 million during the quarter, compared to the consensus estimate of $731.81 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. On average, equities research analysts forecast that Nexa Resources S.A. will post 1.03 earnings per share for the current year.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC purchased a new stake in shares of Nexa Resources S.A. (NYSE:NEXA) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 14,341 shares of the company’s stock, valued at approximately $126,000.

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.