Nexa Resources (NYSE:NEXA) Shares Gap Up – What’s Next?

Nexa Resources S.A. (NYSE:NEXA) gapped up before the market opened on Wednesday . The stock had previously closed at $5.56, but opened at $5.90. Nexa Resources shares last traded at $5.74, with a volume of 4,831 shares traded.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Bank of America decreased their price objective on shares of Nexa Resources from $8.00 to $6.50 and set an “underperform” rating on the stock in a research note on Monday, March 10th. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Finally, Scotiabank reduced their price objective on Nexa Resources from $5.00 to $4.50 and set a “sector underperform” rating on the stock in a research note on Monday.

Nexa Resources Price Performance

The business’s 50-day simple moving average is $5.68 and its two-hundred day simple moving average is $6.88. The stock has a market cap of $752.25 million, a price-to-earnings ratio of -3.69 and a beta of 1.09. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP raised its position in shares of Nexa Resources S.A. (NYSE:NEXA) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent quarter.

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.