Nexa Resources S.A. (NYSE:NEXA) Sees Significant Decrease in Short Interest

Nexa Resources S.A. (NYSE:NEXA) saw a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 22,000 shares, a drop of 13.0% from the January 31st total of 25,300 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 115,500 shares, the short-interest ratio is currently 0.2 days.

Nexa Resources Stock Performance

Shares of NEXA opened at $5.60 on Friday. The firm has a 50-day moving average of $6.16 and a 200-day moving average of $6.98. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. The company has a market cap of $741.00 million, a PE ratio of -3.63 and a beta of 1.50. Nexa Resources has a one year low of $5.05 and a one year high of $9.61.

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 analysts’ consensus estimates of $0.20 by ($1.20). The company had revenue of $740.92 million for the quarter, compared to analyst estimates 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, equities analysts forecast that Nexa Resources will post 1.03 earnings per share for the current year.

Institutional Trading of Nexa Resources

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

Wall Street Analysts Forecast Growth

NEXA has been the subject of a number of analyst reports. Scotiabank decreased their price objective on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating for the company in a research report on Friday, February 7th. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $7.50 to $7.80 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.16.

About Nexa Resources

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.