Nexa Resources (NYSE:NEXA) Sets New 52-Week High – Still a Buy?

Nexa Resources S.A. (NYSE:NEXA)’s share price hit a new 52-week high on Friday . The stock traded as high as $8.73 and last traded at $8.68, with a volume of 7394 shares. The stock had previously closed at $8.60.

Analysts Set New Price Targets

NEXA has been the subject of several recent research reports. Scotiabank cut their price target on Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating for the company in a report on Monday, November 4th. 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 research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.31.

Nexa Resources Trading Up 1.7 %

The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. The stock has a market cap of $1.16 billion, a PE ratio of -5.79 and a beta of 1.52. The company’s 50-day moving average price is $7.92 and its 200 day moving average price is $7.38.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP boosted its holdings in shares of Nexa Resources S.A. (NYSE:NEXA) by 11.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 593,983 shares of the company’s stock after acquiring an additional 63,197 shares during the period. Dimensional Fund Advisors LP owned about 0.45% of Nexa Resources worth $4,538,000 at the end of the most recent reporting period.

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.