Nexa Resources (NYSE:NEXA) Sets New 52-Week Low - Here's Why

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) reached a new 52-week low on Thursday . The stock traded as low as $4.93 and last traded at $4.97, with a volume of 10055 shares trading hands. The stock had previously closed at $4.99.

Analyst Ratings Changes

NEXA has been the topic of a number of research reports. Bank of America reduced their price objective 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. BMO Capital Markets started coverage on shares of Nexa Resources in a research note on Wednesday, April 16th. They set a "market perform" rating and a $6.00 price target on the stock. Finally, Scotiabank reiterated an "underperform" rating on shares of Nexa Resources in a research report on Wednesday, May 14th.

Nexa Resources Price Performance

The firm has a market capitalization of $661.53 million, a P/E ratio of -3.24 and a beta of 1.05. 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 50 day moving average price of $5.68 and a 200-day moving average price of $6.33.

Nexa Resources (NYSE:NEXA - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. The firm had revenue of $627.12 million for the quarter, compared to analysts' expectations of $635.17 million. On average, analysts expect that Nexa Resources S.A. will post 1.03 earnings per share for the current year.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC acquired a new position in shares of Nexa Resources S.A. (NYSE:NEXA - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 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.