Nexa Resources (NYSE:NEXA) Shares Gap Up – Time to Buy?

Shares of Nexa Resources S.A. (NYSE:NEXA) gapped up prior to trading on Wednesday . The stock had previously closed at $5.56, but opened at $5.90. Nexa Resources shares last traded at $5.74, with a volume of 4,831 shares changing hands.

Analyst Ratings Changes

A number of analysts have weighed in on NEXA shares. Scotiabank decreased their price target on Nexa Resources from $5.00 to $4.50 and set a “sector underperform” rating for the company in a report on Monday. 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 note on Monday, March 10th. Finally, Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $7.50 to $7.80 in a research report on Thursday, December 12th.

Nexa Resources Price Performance

The business has a 50-day moving average of $5.68 and a 200 day moving average of $6.88. 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 firm has a market capitalization of $752.25 million, a P/E ratio of -3.69 and a beta of 1.09.

Nexa Resources (NYSE:NEXA) last issued its earnings results on Thursday, February 20th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. The firm had revenue of $740.92 million for the quarter, compared to analyst estimates of $731.81 million. On average, sell-side analysts predict that Nexa Resources S.A. will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC purchased a new stake in shares of Nexa Resources S.A. (NYSE:NEXA) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 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.