Nexa Resources (NYSE:NEXA) Stock Price Down 1.3% - Here's What Happened

Shares of Nexa Resources S.A. (NYSE:NEXA - Get Free Report) dropped 1.3% on Tuesday . The stock traded as low as $4.95 and last traded at $4.96. Approximately 11,863 shares traded hands during trading, a decline of 75% from the average daily volume of 47,437 shares. The stock had previously closed at $5.02.

Analysts Set New Price Targets

NEXA has been the subject of several recent analyst reports. Bank of America dropped their price objective on Nexa Resources from $8.00 to $6.50 and set an "underperform" rating for the company in a research report on Monday, March 10th. Royal Bank of Canada dropped their price objective on Nexa Resources from $8.00 to $7.00 and set a "sector perform" rating for the company in a research report on Wednesday. BMO Capital Markets began coverage on Nexa Resources in a research report on Wednesday, April 16th. They set a "market perform" rating and a $6.00 price objective for the company. Finally, Scotiabank reiterated an "underperform" rating on shares of Nexa Resources in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, Nexa Resources presently has an average rating of "Hold" and a consensus target price of $6.46.

Nexa Resources Stock Down 0.8%

The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. The stock has a market capitalization of $644.98 million, a P/E ratio of -3.16 and a beta of 0.99. The firm has a 50-day simple moving average of $5.56 and a 200 day simple moving average of $6.25.

Nexa Resources (NYSE:NEXA - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. The company had revenue of $627.12 million for the quarter, compared to the consensus estimate of $635.17 million. On average, equities research analysts forecast that Nexa Resources S.A. will post 1.03 EPS for the current year.

Nexa Resources Announces Dividend

The business also recently disclosed a -- dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.1012 per share. The ex-dividend date of this dividend is Tuesday, June 10th. Nexa Resources's dividend payout ratio (DPR) is -25.98%.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC acquired a new position in shares of Nexa Resources S.A. (NYSE:NEXA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,341 shares of the company's stock, valued at approximately $126,000.

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.