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

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

Analyst Upgrades and Downgrades

NEXA has been the topic of several recent analyst reports. Scotiabank cut their price target on Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating on the stock in a research note on Monday, November 4th. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price target 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 given a buy rating to the stock. Based on data from MarketBeat, Nexa Resources presently has an average rating of “Hold” and a consensus price target of $7.31.

Nexa Resources Trading Up 2.7 %

The firm has a 50-day moving average of $7.91 and a 200 day moving average of $7.38. 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 stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -5.85 and a beta of 1.52.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP boosted its position in Nexa Resources S.A. (NYSE:NEXA) by 11.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 593,983 shares of the company’s stock after purchasing an additional 63,197 shares during the period. Dimensional Fund Advisors LP owned approximately 0.45% of Nexa Resources worth $4,538,000 as of its most recent SEC filing.

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.