Nexa Resources (NYSE:NEXA) Shares Gap Up – Time to Buy?

Nexa Resources S.A. (NYSE:NEXA) gapped up before the market opened on Tuesday . The stock had previously closed at $8.09, but opened at $8.38. Nexa Resources shares last traded at $8.38, with a volume of 1,675 shares changing hands.

Wall Street Analyst Weigh In

NEXA has been the topic of several analyst reports. Scotiabank lowered their target price on shares of Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating on the stock in a report on Monday, November 4th. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $7.50 to $7.80 in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Nexa Resources presently has an average rating of “Hold” and an average target price of $7.31.

Nexa Resources Stock Up 1.0 %

The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -5.55 and a beta of 1.52. 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 firm’s 50-day simple moving average is $7.78 and its two-hundred day simple moving average is $7.35.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP boosted its position in Nexa Resources S.A. (NYSE:NEXA) by 11.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 593,983 shares of the company’s stock after acquiring an additional 63,197 shares during the period. Dimensional Fund Advisors LP owned 0.45% of Nexa Resources worth $4,538,000 at the end of the most recent quarter.

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.