Nexa Resources (NYSE:NEXA) Shares Gap Down to $6.77

Nexa Resources S.A. (NYSE:NEXA)’s share price gapped down prior to trading on Monday . The stock had previously closed at $6.77, but opened at $6.63. Nexa Resources shares last traded at $6.63, with a volume of 560 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley increased their price objective on Nexa Resources from $7.00 to $7.50 and gave the company an “underweight” rating in a research report on Friday, June 21st. Bank of America raised their price target on Nexa Resources from $7.50 to $8.00 and gave the company an “underperform” rating in a report on Wednesday, June 26th. Finally, Scotiabank cut their target price on shares of Nexa Resources from $7.00 to $6.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, August 6th. Three research 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.30.

Nexa Resources Trading Down 0.6 %

The company has a current ratio of 1.16, a quick ratio of 0.78 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $891.32 million, a P/E ratio of -3.05, a PEG ratio of 0.25 and a beta of 1.53. The business has a 50 day moving average of $6.69 and a 200-day moving average of $7.21.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $736.31 million for the quarter, compared to analyst estimates 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 previous year, the business earned $0.04 earnings per share. Analysts anticipate that Nexa Resources S.A. will post 0.5 EPS for the current fiscal year.

Institutional Trading of Nexa Resources

Institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in shares of Nexa Resources by 3.7% during the 2nd 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 increased its holdings in Nexa Resources by 11.9% during the second quarter. Dimensional Fund Advisors LP now owns 593,983 shares of the company’s stock worth $4,538,000 after buying an additional 63,197 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Nexa Resources during the first quarter worth $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.