Nexa Resources (NYSE:NEXA) Shares Up 5.6% - Time to 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 stock price was up 5.6% on Friday . The stock traded as high as $5.00 and last traded at $5.15. Approximately 15,225 shares traded hands during trading, a decline of 47% from the average daily volume of 28,568 shares. The stock had previously closed at $4.87.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NEXA shares. Scotiabank set a $4.00 price target on Nexa Resources and gave the stock a "sector underperform" rating in a research report on Tuesday, August 5th. Citigroup started coverage on Nexa Resources in a research note on Tuesday. They set a "neutral" rating and a $5.50 target price for the company. Royal Bank Of Canada reduced their target price on Nexa Resources from $8.00 to $7.00 and set a "sector perform" rating for the company in a research note on Wednesday, June 4th. Finally, Morgan Stanley downgraded Nexa Resources from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $7.00 to $5.00 in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $5.67.

Nexa Resources Trading Down 3.7%

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 firm has a 50 day moving average price of $4.90 and a two-hundred day moving average price of $5.23. The company has a market cap of $671.21 million, a price-to-earnings ratio of -7.45 and a beta of 0.89.

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