Nexa Resources (NYSE:NEXA) Stock Price Down 9.4% - Should You Sell?

Key Points

• Nexa Resources shares fell sharply by 9.4% on Thursday, trading as low as $12.75 after closing at $14.05 the prior day. Trading volume was well below average, with about 238,132 shares changing hands versus the normal 982,951.
• Wall Street sentiment remains cautious, with several firms issuing hold or underperform-style ratings. MarketBeat shows an average rating of “Reduce” and an average price target of $13.00.
• The company’s latest earnings were roughly in line with expectations, as Nexa reported $0.67 EPS on revenue of $888.3 million. Analysts currently expect full-year earnings of about $2.70 per share.

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) was down 9.4% during trading on Thursday . The company traded as low as $12.75 and last traded at $12.73. Approximately 238,132 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 982,951 shares. The stock had previously closed at $14.05.

Analysts Set New Price Targets

A number of research firms have weighed in on NEXA. Zacks Research downgraded shares of Nexa Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nexa Resources in a report on Wednesday, April 22nd. Citigroup lifted their target price on shares of Nexa Resources from $12.50 to $16.00 and gave the company a "neutral" rating in a research report on Wednesday, June 3rd. Bank of America upped their target price on shares of Nexa Resources from $12.00 to $14.00 and gave the company an "underperform" rating in a research note on Thursday, July 9th. Finally, Scotiabank raised their price target on shares of Nexa Resources from $14.50 to $15.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 7th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $13.00.

Nexa Resources Stock Down 11.3%

The stock has a market capitalization of $1.65 billion, a P/E ratio of 7.89, a P/E/G ratio of 0.16 and a beta of 0.94. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13. The firm's fifty day moving average is $13.87 and its 200-day moving average is $12.61.

Nexa Resources (NYSE:NEXA - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $888.32 million during the quarter, compared to analyst estimates of $885.90 million. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. As a group, equities research analysts predict that Nexa Resources S.A. will post 2.7 earnings per share for the current year.

Hedge Funds Weigh In On Nexa Resources

A number of institutional investors and hedge funds have recently bought and sold shares of NEXA. Financial Management Professionals Inc. acquired a new stake in shares of Nexa Resources in the second quarter valued at $28,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Nexa Resources during the 4th quarter worth about $36,000. Nano Cap New Millennium Growth Fund L P bought a new stake in Nexa Resources during the 4th quarter worth about $44,000. Royal Bank of Canada increased its position in Nexa Resources by 173.8% in the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company's stock valued at $47,000 after acquiring an additional 2,784 shares in the last quarter. Finally, First Affirmative Financial Network acquired a new stake in Nexa Resources in the 3rd quarter valued at about $63,000.

Nexa Resources Company Profile

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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