Nexa Resources (NYSE:NEXA) Sees Unusually-High Trading Volume – Still a Buy?

Nexa Resources S.A. (NYSE:NEXA) shares saw strong trading volume on Monday . 32,721 shares traded hands during trading, an increase of 5% from the previous session’s volume of 31,059 shares.The stock last traded at $7.90 and had previously closed at $7.88.

Analysts Set New Price Targets

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

Nexa Resources Stock Up 2.7 %

The company has a market capitalization of $1.12 billion, a P/E ratio of -5.61 and a beta of 1.52. The stock has a 50-day moving average price of $7.85 and a 200-day moving average price of $7.36. 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. Renaissance Technologies LLC increased its stake in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,792 shares of the company’s stock after buying an additional 12,092 shares during the quarter. Renaissance Technologies LLC owned 0.26% of Nexa Resources worth $2,611,000 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.