Nexa Resources (NYSE:NEXA) Sees Strong Trading Volume - What's Next?

Key Points

• Nexa Resources saw a significant increase in trading volume, with 75,329 shares traded, a rise of 155% compared to the previous session.
• Several analysts downgraded Nexa Resources, with Morgan Stanley lowering its rating from "equal weight" to "underweight" and reducing the price target to $5.00.
• The company reported earnings of $0.11 EPS, surpassing estimates and achieving revenue of $708.42 million for the quarter.

Shares of Nexa Resources S.A. (NYSE:NEXA - Get Free Report) saw an uptick in trading volume on Tuesday . 75,329 shares were traded during trading, an increase of 155% from the previous session's volume of 29,516 shares.The stock last traded at $5.24 and had previously closed at $5.06.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NEXA. Royal Bank Of Canada dropped their price target on Nexa Resources from $8.00 to $7.00 and set a "sector perform" rating for the company in a research report on Wednesday, June 4th. Morgan Stanley downgraded Nexa Resources from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $7.00 to $5.00 in a research report on Tuesday, July 15th. Citigroup assumed coverage on Nexa Resources in a report on Tuesday. They set a "neutral" rating and a $5.50 price objective on the stock. Finally, Scotiabank set a $4.00 price target on Nexa Resources and gave the stock a "sector underperform" rating in a research note on Tuesday, August 5th. Three equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Nexa Resources presently has an average rating of "Reduce" and a consensus target price of $5.67.

Nexa Resources Stock Up 1.4%

The firm has a market capitalization of $658.23 million, a P/E ratio of -7.31 and a beta of 0.89. The company has a quick ratio of 0.64, a current ratio of 0.99 and a debt-to-equity ratio of 1.54. The company has a fifty day simple moving average of $4.90 and a 200 day simple moving average of $5.23.

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

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.