Nexa Resources (NYSE:NEXA) Trading Down 6.6% – What’s Next?

Shares of Nexa Resources S.A. (NYSE:NEXA) traded down 6.6% during mid-day trading on Tuesday . The stock traded as low as $6.51 and last traded at $6.51. 21,605 shares changed hands during trading, a decline of 86% from the average session volume of 155,821 shares. The stock had previously closed at $6.97.

Analysts Set New Price Targets

NEXA has been the topic of several research analyst reports. Scotiabank upped their price objective on shares of Nexa Resources from $5.75 to $7.00 and gave the stock a “sector underperform” rating in a research note on Monday. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Nexa Resources presently has an average rating of “Hold” and a consensus target price of $7.56.

Nexa Resources Price Performance

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’s 50 day moving average price is $7.94 and its 200 day moving average price is $7.39. The firm has a market capitalization of $860.86 million, a P/E ratio of -4.30 and a beta of 1.48.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC increased its stake in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 341,792 shares of the company’s stock after purchasing an additional 12,092 shares during the period. Renaissance Technologies LLC owned approximately 0.26% of Nexa Resources worth $2,611,000 as of its most recent SEC filing.

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.