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

Nexa Resources S.A. (NYSE:NEXA) gapped up prior to trading on Thursday . The stock had previously closed at $8.80, but opened at $9.36. Nexa Resources shares last traded at $9.08, with a volume of 61,603 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NEXA. Scotiabank dropped their target price on Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating for the company in a report on Monday, November 4th. 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 report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Nexa Resources presently has an average rating of “Hold” and an average target price of $7.31.

Nexa Resources Stock Down 2.1 %

The company has a market cap of $933.70 million, a P/E ratio of -4.67 and a beta of 1.52. The stock has a 50-day moving average of $7.95 and a 200 day moving average of $7.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP lifted its holdings in shares of Nexa Resources S.A. (NYSE:NEXA) by 11.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 593,983 shares of the company’s stock after buying an additional 63,197 shares during the period. Dimensional Fund Advisors LP owned about 0.45% of Nexa Resources worth $4,538,000 as of its most recent filing with the SEC.

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.