Nexa Resources (NYSE:NEXA) Stock Price Up 5.6% - Here's What Happened

Shares of Nexa Resources S.A. (NYSE:NEXA - Get Free Report) shot up 5.6% on Monday . The stock traded as high as $4.96 and last traded at $4.92. 11,716 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 47,579 shares. The stock had previously closed at $4.66.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NEXA. Scotiabank restated an "underperform" rating on shares of Nexa Resources in a research report on Wednesday, May 14th. BMO Capital Markets began coverage on shares of Nexa Resources in a research report on Wednesday, April 16th. They issued a "market perform" rating and a $6.00 price objective for the company. Royal Bank Of Canada dropped 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 research report on Wednesday, June 4th. Finally, Bank of America lowered their target price on shares of Nexa Resources from $8.00 to $6.50 and set an "underperform" rating for the company in a report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $6.46.

Nexa Resources Stock Up 1.8%

The business's fifty day simple moving average is $5.27 and its 200 day simple moving average is $5.99. The company has a current ratio of 0.99, a quick ratio of 0.64 and a debt-to-equity ratio of 1.54. The stock has a market cap of $636.24 million, a price-to-earnings ratio of -3.78, a price-to-earnings-growth ratio of 0.46 and a beta of 0.99.

Nexa Resources (NYSE:NEXA - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Nexa Resources had a negative return on equity of 5.97% and a negative net margin of 5.97%. The business had revenue of $627.12 million for the quarter, compared to analyst estimates of $635.17 million. Equities analysts forecast that Nexa Resources S.A. will post 1.03 earnings per share for the current fiscal year.

Nexa Resources Dividend Announcement

The company also recently declared a -- dividend, which was paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th were issued a $0.1012 dividend. The ex-dividend date was Tuesday, June 10th. Nexa Resources's dividend payout ratio (DPR) is -7.87%.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC purchased a new stake in Nexa Resources S.A. (NYSE:NEXA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,341 shares of the company's stock, valued at approximately $126,000.

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.