Nexa Resources (NYSE:NEXA) Trading 5.6% Higher - Still a Buy?

Key Points

• Nexa Resources' share price increased by 5.6% during mid-day trading, reaching a high of $5.15, although trading volume was down 47% from the average.
• Analysts have issued mostly negative ratings for Nexa Resources, with a consensus target price of $5.70 and an average rating of "Strong Sell".
• The company reported $0.11 earnings per share, exceeding expectations, with revenue of $708.42 million against forecasts of $625.20 million.

Nexa Resources S.A. (NYSE:NEXA - Get Free Report)'s share price traded up 5.6% during mid-day trading on Friday . The company traded as high as $5.00 and last traded at $5.15. 15,225 shares were traded during mid-day trading, a decline of 47% from the average session volume of 28,568 shares. The stock had previously closed at $4.87.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Scotiabank set a $4.00 price target on shares of Nexa Resources and gave the company a "sector underperform" rating in a research note on Tuesday, August 5th. Morgan Stanley cut shares of 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 note on Tuesday, July 15th. Finally, Royal Bank Of Canada dropped their price target on shares of Nexa Resources from $8.00 to $7.00 and set a "sector perform" rating on the stock in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Nexa Resources has an average rating of "Strong Sell" and a consensus target price of $5.70.

Nexa Resources Stock Performance

The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.64 and a current ratio of 0.99. The firm's 50 day simple moving average is $4.89 and its 200-day simple moving average is $5.24. The company has a market cap of $681.40 million, a price-to-earnings ratio of -7.57 and a beta of 0.89.

Nexa Resources (NYSE:NEXA - Get Free Report) last announced its earnings results 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 company had revenue of $708.42 million for the quarter, compared to analysts' expectations of $625.20 million. On average, sell-side analysts predict that Nexa Resources S.A. will post 1.03 EPS for the current year.

Nexa Resources Company Profile

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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