Nexa Resources (NYSE:NEXA) Shares Down 4.4%

Nexa Resources S.A. (NYSE:NEXA) shares fell 4.4% on Friday . The company traded as low as $5.86 and last traded at $5.92. 6,700 shares traded hands during trading, a decline of 79% from the average session volume of 31,581 shares. The stock had previously closed at $6.19.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America lifted their price target on Nexa Resources from $7.50 to $8.00 and gave the stock an “underperform” rating in a report on Wednesday, June 26th. Morgan Stanley lifted their target price on Nexa Resources from $7.00 to $7.50 and gave the stock an “underweight” rating in a research note on Friday, June 21st. BMO Capital Markets boosted their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, Scotiabank decreased their price objective on shares of Nexa Resources from $7.00 to $6.00 and set a “sector underperform” rating for the company in a report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.30.

Nexa Resources Price Performance

The business’s 50-day moving average price is $7.13 and its 200 day moving average price is $7.26. The company has a quick ratio of 0.63, a current ratio of 0.98 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $789.34 million, a P/E ratio of -2.80, a price-to-earnings-growth ratio of 0.30 and a beta of 1.51.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Thursday, August 1st. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). Nexa Resources had a negative return on equity of 4.00% and a negative net margin of 10.30%. The business had revenue of $736.31 million for the quarter, compared to analysts’ expectations of $674.20 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Analysts anticipate that Nexa Resources S.A. will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Nexa Resources

A number of large investors have recently bought and sold shares of NEXA. Renaissance Technologies LLC raised its stake in shares of Nexa Resources by 3.7% during the second quarter. Renaissance Technologies LLC now owns 341,792 shares of the company’s stock valued at $2,611,000 after acquiring an additional 12,092 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Nexa Resources by 11.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 593,983 shares of the company’s stock valued at $4,538,000 after purchasing an additional 63,197 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Nexa Resources in the 1st quarter worth approximately $8,004,000.

Nexa Resources Company Profile

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.