Nexa Resources (NYSE:NEXA) Trading Up 1.9% - What's Next?

Nexa Resources S.A. (NYSE:NEXA) saw a 1.9% increase in its stock price on Monday. The shares reached a high of $8.99 and ended the day at $8.92, with a total of 8,054 shares exchanged during mid-day trading. This volume was notably lower, representing a 74% drop from the average trading volume of 31,278 shares. The stock had closed the previous trading day at $8.75.

Wall Street Analysts Forecast Growth

Various equity research analysts have provided insights on Nexa Resources. Scotiabank revised its target price down from $6.00 to $5.75 and rated the company as "sector underperform" in a report dated November 4. Conversely, Morgan Stanley raised its rating from "underweight" to "equal weight" and increased the target price from $7.50 to $7.80 in a note published on December 12. Currently, two analysts have recommended selling the stock, two have issued a hold recommendation, and one analyst rates it as a buy. According to data from MarketBeat, Nexa Resources holds an average rating of "Hold" with a consensus target price of $7.31.

Nexa Resources Stock Overview

The company has a market cap of approximately $1.18 billion, a price-to-earnings (P/E) ratio of -5.89, and a beta of 1.52. Its current ratio stands at 1.13, while the quick ratio is 0.76, and the debt-to-equity ratio is 1.39. The fifty-day moving average is $7.92, and the 200-day moving average is $7.38.

Institutional Trading Activity

Recently, a hedge fund has increased its stake in Nexa Resources. Renaissance Technologies LLC boosted its holdings by 3.7% during the second quarter. According to its latest Form 13F filing with the SEC, the institutional investor now holds 341,792 shares after acquiring an additional 12,092 shares. Renaissance Technologies’ ownership represents roughly 0.26% of Nexa Resources, valued at $2,611,000 as per the most recent filing.

About Nexa Resources

Nexa Resources SA, along with its subsidiaries, is engaged in the global zinc mining and smelting industry. The company operates in two primary segments: Mining and Smelting. It produces several metal products, including zinc, zamac, zinc oxide, and zincal, along with various by-products such as copper, lead, silver, gold, copper sulfate, and sulfuric acid, among others.

Nexa, Resources, Stocks