Nexa Resources (NYSE:NEXA) Sees Large Volume Increase - Here's What Happened

Key Points

• Nexa Resources experienced a significant **198% increase** in trading volume, with **35,481 shares** traded on Monday compared to **11,889 shares** the previous session.
• Analysts have recently downgraded Nexa Resources' stock ratings, with **price targets** ranging from **$4.00** to **$7.00**, reflecting a consensus rating of **"Strong Sell".**
• The company reported **$0.11** earnings per share for the last quarter, beating analyst estimates, and achieved a revenue of **$708.42 million**, exceeding expectations of **$625.20 million**.

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) saw an uptick in trading volume on Monday . 35,481 shares changed hands during trading, an increase of 198% from the previous session's volume of 11,889 shares.The stock last traded at $4.92 and had previously closed at $4.86.

Analysts Set New Price Targets

Several brokerages recently weighed in on NEXA. Royal Bank Of Canada lowered their price objective on Nexa Resources from $8.00 to $7.00 and set a "sector perform" rating for the company in a report on Wednesday, June 4th. Morgan Stanley downgraded Nexa Resources from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $7.00 to $5.00 in a research note on Tuesday, July 15th. Finally, Scotiabank set a $4.00 price objective on Nexa Resources and gave the stock a "sector underperform" rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Strong Sell" and an average price target of $5.70.

Nexa Resources Stock Up 1.1%

The stock has a market capitalization of $648.29 million, a P/E ratio of -7.21 and a beta of 0.89. The company's 50-day moving average price is $4.90 and its 200 day moving average price is $5.25. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.64 and a current ratio of 0.99.

Nexa Resources (NYSE:NEXA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.16. Nexa Resources had a negative net margin of 3.26% and a negative return on equity of 6.54%. The company had revenue of $708.42 million during the quarter, compared to analysts' expectations of $625.20 million. As a group, equities analysts expect that Nexa Resources S.A. will post 1.03 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP increased its position in shares of Nexa Resources S.A. (NYSE:NEXA - Free Report) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 628,414 shares of the company's stock after purchasing an additional 7,220 shares during the quarter. Dimensional Fund Advisors LP owned 0.47% of Nexa Resources worth $5,531,000 at the end of the most recent reporting period.

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.

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