Nexa Resources S.A. (NYSE:NEXA) Short Interest Up 52.7% in February

Nexa Resources S.A. (NYSE:NEXA) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 33,600 shares, a growth of 52.7% from the February 13th total of 22,000 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 112,700 shares, the days-to-cover ratio is currently 0.3 days.

Nexa Resources Price Performance

Nexa Resources stock traded up $0.04 during midday trading on Friday, hitting $5.25. 9,392 shares of the company’s stock were exchanged, compared to its average volume of 48,432. The stock has a 50-day moving average price of $5.86 and a two-hundred day moving average price of $6.94. Nexa Resources has a 52-week low of $5.04 and a 52-week high of $9.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. The company has a market cap of $694.64 million, a P/E ratio of -3.41 and a beta of 1.50.

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 analysts’ consensus estimates of $0.20 by ($1.20). Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. The firm had revenue of $740.92 million during the quarter, compared to analysts’ expectations of $731.81 million. On average, equities research analysts forecast that Nexa Resources will post 1.03 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP grew its position in shares of Nexa Resources S.A. (NYSE:NEXA) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 628,414 shares of the company’s stock after acquiring an additional 7,220 shares during the period. Dimensional Fund Advisors LP owned about 0.47% of Nexa Resources worth $5,531,000 at the end of the most recent quarter.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Scotiabank lowered their target price on Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a research note on Friday, February 7th. Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $7.50 to $7.80 in a research note on Thursday, December 12th. Finally, Bank of America reduced their price target on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating for the company in a research report on Monday, March 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.86.

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.