Nexa Resources S.A. (NYSE:NEXA) Short Interest Update

Nexa Resources S.A. (NYSE:NEXA) was the recipient of 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 trading volume of 112,700 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are sold short.

Nexa Resources Price Performance

Shares of Nexa Resources stock traded up $0.19 during trading on Monday, hitting $5.44. The stock had a trading volume of 92,409 shares, compared to its average volume of 48,628. Nexa Resources has a 12 month low of $5.04 and a 12 month high of $9.61. The business’s 50-day moving average is $5.86 and its 200 day moving average is $6.94. The firm has a market cap of $720.07 million, a price-to-earnings ratio of -3.56 and a beta of 1.50. The company has a current ratio of 1.13, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of $0.20 by ($1.20). The company had revenue of $740.92 million during the quarter, compared to analysts’ expectations 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, sell-side analysts anticipate that Nexa Resources will post 1.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NEXA. Scotiabank reduced their price objective on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a research note on Friday, February 7th. Bank of America decreased their price target on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Monday, March 10th. Finally, Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.86.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC acquired a new stake in shares of Nexa Resources S.A. (NYSE:NEXA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 14,341 shares of the company’s stock, valued at approximately $126,000.

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.