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

Key Points

• Nexa Resources saw a 27% increase in trading volume, with 41,632 shares traded, while the stock last traded at $5.40.
• Analysts have set a consensus rating of "Strong Sell" for Nexa Resources, with target prices ranging from $4.00 to $7.00.
• The company reported a quarterly earnings per share of $0.11, surpassing estimates, with revenue of $708.42 million compared to expectations of $625.20 million.

Shares of Nexa Resources S.A. (NYSE:NEXA - Get Free Report) saw an uptick in trading volume on Thursday . 41,632 shares were traded during mid-day trading, an increase of 27% from the previous session's volume of 32,846 shares.The stock last traded at $5.40 and had previously closed at $5.37.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NEXA. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Nexa Resources in a research report on Wednesday. Citigroup began coverage on shares of Nexa Resources in a research report on Tuesday, September 16th. They issued a "neutral" rating and a $5.50 target price for the company. Morgan Stanley downgraded shares of Nexa Resources from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $7.00 to $5.00 in a research report on Tuesday, July 15th. Finally, Scotiabank set a $4.00 target price on shares of Nexa Resources and gave the company a "sector underperform" rating in a research report on Tuesday, August 5th. Three analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Nexa Resources presently has a consensus rating of "Strong Sell" and an average target price of $5.67.

Nexa Resources Stock Down 0.8%

The firm's fifty day moving average is $4.94 and its 200 day moving average is $5.19. 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 issued its quarterly earnings data on Thursday, July 31st. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $708.42 million during the quarter, compared to the consensus estimate of $625.20 million. On average, research analysts forecast that Nexa Resources S.A. will post 1.03 EPS for the current year.

Institutional Trading of Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Assenagon Asset Management S.A. acquired a new position in Nexa Resources S.A. (NYSE:NEXA - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 11,486 shares of the company's stock, valued at approximately $57,000.

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.

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