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

Nexa Resources S.A. (NYSE:NEXA - Get Free Report)'s share price hit 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 subject of several research analyst reports. Bank of America cut their price objective on Nexa Resources from $8.00 to $6.50 and set an "underperform" rating for the company in a report on Monday, March 10th. Scotiabank restated an "underperform" rating on shares of Nexa Resources in a report on Wednesday, May 14th. Finally, BMO Capital Markets initiated coverage on Nexa Resources in a report on Wednesday, April 16th. They issued a "market perform" rating and a $6.00 price objective for the company.

Nexa Resources Stock Up 0.9%

The business has a 50-day moving average price of $5.69 and a 200-day moving average price of $6.36. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $661.53 million, a price-to-earnings ratio of -3.24 and a beta of 1.05.

Nexa Resources (NYSE:NEXA - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.16 earnings per share 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. As a group, equities analysts anticipate 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 raised its position in Nexa Resources stock. Dimensional Fund Advisors LP grew its holdings in Nexa Resources S.A. (NYSE:NEXA - Free Report) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 628,414 shares of the company's stock after purchasing an additional 7,220 shares during the period. Dimensional Fund Advisors LP owned about 0.47% of Nexa Resources worth $5,531,000 as of its most recent SEC filing.

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.