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

Nexa Resources S.A. (NYSE:NEXA) was the target of a large increase in short interest during 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. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 112,700 shares, the short-interest ratio is currently 0.3 days.

Nexa Resources Stock Performance

NYSE:NEXA traded up $0.19 during mid-day trading on Monday, hitting $5.44. The stock had a trading volume of 92,409 shares, compared to its average volume of 48,628. The company’s 50 day simple moving average is $5.86 and its 200 day simple moving average is $6.94. The stock 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 debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. Nexa Resources has a twelve month low of $5.04 and a twelve month high of $9.61.

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 analyst estimates of $731.81 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. On average, equities research analysts forecast that Nexa Resources will post 1.03 earnings per share for the current year.

Analyst Ratings Changes

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

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) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,341 shares of the company’s stock, valued at approximately $126,000.

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.