Nexa Resources (NYSE:NEXA) Sets New 12-Month Low – Here’s What Happened

Nexa Resources S.A. (NYSE:NEXA) reached a new 52-week low on Wednesday . The stock traded as low as $5.10 and last traded at $5.23, with a volume of 2008 shares. The stock had previously closed at $5.15.

Analyst Ratings Changes

NEXA has been the subject of a number of research analyst reports. Scotiabank reduced their target price on Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating for the company in a report on Friday, February 7th. 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 research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.16.

Nexa Resources Stock Performance

The company has a current ratio of 1.13, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $727.76 million, a PE ratio of -3.64 and a beta of 1.45. The firm’s fifty day moving average price is $6.80 and its 200 day moving average price is $7.07.

Nexa Resources (NYSE:NEXA) last issued its earnings results on Thursday, February 20th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). Nexa Resources had a negative net margin of 7.48% and a positive return on equity of 1.51%. The firm had revenue of $740.92 million during the quarter, compared to analysts’ expectations of $731.81 million. On average, research analysts anticipate that Nexa Resources S.A. will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP increased its stake in shares of Nexa Resources S.A. (NYSE:NEXA) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 628,414 shares of the company’s stock after acquiring an additional 7,220 shares during the period. Dimensional Fund Advisors LP owned 0.47% of Nexa Resources worth $5,531,000 as of its most recent filing with the SEC.

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.