Nexa Resources S.A. (NYSE:NEXA) Short Interest Down 38.7% in December

Nexa Resources S.A. (NYSE:NEXA) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 18,200 shares, a drop of 38.7% from the December 15th total of 29,700 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 114,600 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On Nexa Resources

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

Nexa Resources Stock Up 0.7 %

Nexa Resources stock traded up $0.04 during midday trading on Tuesday, hitting $6.16. 39,087 shares of the company’s stock were exchanged, compared to its average volume of 108,673. 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 $815.83 million, a PE ratio of -4.08 and a beta of 1.48. The firm has a 50-day moving average of $7.77 and a two-hundred day moving average of $7.35. Nexa Resources has a 12 month low of $5.10 and a 12 month high of $9.61.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NEXA shares. Scotiabank boosted their target price on shares of Nexa Resources from $5.75 to $7.00 and gave the company a “sector underperform” rating in a research note on Monday, January 6th. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $7.50 to $7.80 in a research 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 given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.56.

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.