Nexa Resources (NYSE:NEXA) Hits New 12-Month High – Should You Buy?

Nexa Resources S.A. (NYSE:NEXA)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $8.09 and last traded at $8.00, with a volume of 40737 shares traded. The stock had previously closed at $7.95.

Wall Street Analyst Weigh In

Separately, Scotiabank cut their target price on Nexa Resources from $7.00 to $6.00 and set a “sector underperform” rating for the company in a research note on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.30.

Nexa Resources Price Performance

The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -3.58, a PEG ratio of 8.74 and a beta of 1.54. The company’s fifty day moving average is $6.92 and its 200 day moving average is $7.25. The company has a quick ratio of 0.78, a current ratio of 1.16 and a debt-to-equity ratio of 1.40.

Nexa Resources (NYSE:NEXA) last issued its earnings results on Thursday, August 1st. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). The business had revenue of $736.31 million for the quarter, compared to the consensus estimate of $674.20 million. Nexa Resources had a negative return on equity of 4.16% and a negative net margin of 10.30%. During the same quarter in the prior year, the firm posted $0.04 earnings per share. On average, equities research analysts predict that Nexa Resources S.A. will post 0.02 EPS for the current year.

Institutional Investors Weigh In On Nexa Resources

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in shares of Nexa Resources by 3.7% in the second quarter. Renaissance Technologies LLC now owns 341,792 shares of the company’s stock worth $2,611,000 after purchasing an additional 12,092 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Nexa Resources by 11.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 593,983 shares of the company’s stock worth $4,538,000 after purchasing an additional 63,197 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Nexa Resources during the first quarter valued at about $8,004,000.

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.