Nexa Resources S.A. (NYSE:NEXA) Short Interest Up 52.7% in February

Nexa Resources S.A. (NYSE:NEXA) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 33,600 shares, an increase of 52.7% from the February 13th total of 22,000 shares. Based on an average daily volume of 112,700 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP grew its position in shares of Nexa Resources S.A. (NYSE:NEXA) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 628,414 shares of the company’s stock after purchasing an additional 7,220 shares during the period. Dimensional Fund Advisors LP owned approximately 0.47% of Nexa Resources worth $5,531,000 at the end of the most recent reporting period.

Nexa Resources Price Performance

Shares of Nexa Resources stock traded up $0.04 during trading on Friday, reaching $5.25. 9,392 shares of the stock traded hands, compared to its average volume of 48,432. The company has a market capitalization of $694.64 million, a price-to-earnings ratio of -3.41 and a beta of 1.50. The business has a fifty day simple moving average of $5.86 and a two-hundred day simple moving average of $6.94. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. Nexa Resources has a 52-week low of $5.04 and a 52-week high of $9.61.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). The firm had revenue of $740.92 million for the quarter, compared to analysts’ expectations of $731.81 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. Sell-side analysts expect that Nexa Resources will post 1.03 EPS for the current year.

Wall Street Analysts Forecast Growth

NEXA has been the topic of a number of recent analyst reports. Scotiabank decreased their price target on Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a report on Friday, February 7th. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Finally, Bank of America decreased their price target on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating on the stock in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.86.

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.