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

Key Points

• 52-week high — Nexa reached an intraday high of $16.55 and last traded at $15.06 on heavy volume, trading well above its 50- and 200-day moving averages ($11.41 and $9.13).
• Wall Street views are mixed: the stock has a consensus rating of Hold with a consensus target of $9.74, even as several firms raised targets and Morgan Stanley upgraded to equal weight.
• Fundamentals include a quarterly beat (EPS $0.60 vs. $0.45; revenue $903M vs. $823M) and a recently announced special dividend of $0.1321 per share payable Aug. 11.

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $16.55 and last traded at $15.06, with a volume of 1027391 shares. The stock had previously closed at $14.65.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NEXA. JPMorgan Chase & Co. increased their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the company a "neutral" rating in a research report on Thursday, February 26th. Citigroup increased their price target on shares of Nexa Resources from $11.00 to $12.50 and gave the company a "neutral" rating in a research report on Tuesday. Morgan Stanley upgraded shares of Nexa Resources from an "underweight" rating to an "equal weight" rating in a research report on Thursday, April 9th. Weiss Ratings restated a "hold (c-)" rating on shares of Nexa Resources in a research report on Monday, December 29th. Finally, Zacks Research lowered shares of Nexa Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Seven analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $9.74.

Nexa Resources Stock Performance

The company has a market cap of $1.99 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.14 and a beta of 0.62. The company's 50-day moving average is $11.41 and its two-hundred day moving average is $9.13. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 1.28.

Nexa Resources (NYSE:NEXA - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.15. The company had revenue of $903.00 million during the quarter, compared to analyst estimates of $823.27 million. Nexa Resources had a net margin of 4.42% and a return on equity of 11.81%. Equities analysts predict that Nexa Resources S.A. will post 1.03 EPS for the current year.

Nexa Resources Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, July 28th will be issued a dividend of $0.1321 per share. The ex-dividend date of this dividend is Tuesday, July 28th. Nexa Resources's dividend payout ratio is 10.00%.

Institutional Investors Weigh In On Nexa Resources

Several institutional investors have recently added to or reduced their stakes in NEXA. Police & Firemen s Retirement System of New Jersey purchased a new stake in Nexa Resources during the fourth quarter valued at about $36,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in Nexa Resources during the fourth quarter valued at about $44,000. Assenagon Asset Management S.A. purchased a new stake in Nexa Resources during the third quarter valued at about $57,000. First Affirmative Financial Network purchased a new stake in Nexa Resources during the third quarter valued at about $63,000. Finally, New York State Common Retirement Fund purchased a new stake in Nexa Resources during the fourth quarter valued at about $83,000.

About Nexa Resources

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.

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