Nexa Resources (NYSE:NEXA) Shares Down 0.4% - What's Next?

Key Points

• Nexa Resources' share price fell by 0.4% to $4.98, with trading volume dropping 54% compared to its average daily volume.
• Analysts have issued mixed ratings on the stock, with Scotiabank setting a price objective of $4.00 and Morgan Stanley lowering their target from $7.00 to $5.00.
• The company reported an earnings per share of $0.11, exceeding expectations, with revenues of $708.42 million for the quarter, surpassing the consensus estimate of $625.20 million.

Nexa Resources S.A. (NYSE:NEXA - Get Free Report)'s share price was down 0.4% during mid-day trading on Monday . The stock traded as low as $4.96 and last traded at $4.98. Approximately 22,121 shares traded hands during trading, a decline of 54% from the average daily volume of 48,035 shares. The stock had previously closed at $5.00.

Analyst Upgrades and Downgrades

NEXA has been the subject of a number of recent research reports. Scotiabank set a $4.00 price objective on shares of Nexa Resources and gave the stock a "sector underperform" rating in a report on Tuesday, August 5th. Morgan Stanley lowered shares of Nexa Resources from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $7.00 to $5.00 in a report on Tuesday, July 15th. Royal Bank Of Canada lowered their price objective on shares of Nexa Resources from $8.00 to $7.00 and set a "sector perform" rating for the company in a report on Wednesday, June 4th. Finally, Citigroup initiated coverage on shares of Nexa Resources in a report on Tuesday, September 16th. They issued a "neutral" rating and a $5.50 price objective for the company. Three research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $5.67.

Nexa Resources Trading Down 0.4%

The company has a debt-to-equity ratio of 1.54, a current ratio of 0.99 and a quick ratio of 0.64. The firm's 50 day moving average is $4.91 and its 200 day moving average is $5.21. The company has a market capitalization of $659.55 million, a PE ratio of -7.32 and a beta of 0.89.

Nexa Resources (NYSE:NEXA - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.11 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 company had revenue of $708.42 million for the quarter, compared to the consensus estimate of $625.20 million. As a group, equities analysts predict that Nexa Resources S.A. will post 1.03 EPS for the current 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.

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