Nexa Resources (NYSE:NEXA) Shares Gap Up – Here’s Why

Nexa Resources S.A. (NYSE:NEXA)’s share price gapped up prior to trading on Monday . The stock had previously closed at $5.43, but opened at $5.77. Nexa Resources shares last traded at $5.60, with a volume of 13,747 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Scotiabank reduced their price objective on Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.16.

Nexa Resources Stock Performance

The business’s fifty day simple moving average is $6.75 and its 200-day simple moving average is $7.06. The firm has a market cap of $697.95 million, a P/E ratio of -3.42 and a beta of 1.45. The company has a current ratio of 1.13, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Thursday, February 20th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($1.20). The business had revenue of $740.92 million during 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%. As a group, sell-side analysts expect that Nexa Resources S.A. will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC acquired a new position in Nexa Resources S.A. (NYSE:NEXA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,341 shares of the company’s stock, valued at approximately $126,000.

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.