Nexa Resources S.A. (NYSE:NEXA) Sees Significant Growth in Short Interest

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 25,800 shares, an increase of 35.1% from the May 15th total of 19,100 shares. Based on an average trading volume of 21,800 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.1% of the shares of the stock are short sold.

Nexa Resources Stock Down 1.3%

Nexa Resources stock traded down $0.07 during mid-day trading on Tuesday, hitting $4.90. 4,675 shares of the company's stock were exchanged, compared to its average volume of 47,516. Nexa Resources has a 1-year low of $4.76 and a 1-year high of $9.61. The stock has a 50 day moving average of $5.44 and a two-hundred day moving average of $6.12. The company has a current ratio of 1.13, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The stock has a market cap of $648.29 million, a P/E ratio of -3.18 and a beta of 0.99.

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 for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. The company had revenue of $627.12 million during the quarter, compared to the consensus estimate of $635.17 million. As a group, analysts anticipate that Nexa Resources will post 1.03 EPS for the current fiscal year.

Nexa Resources Announces Dividend

The company also recently announced a -- dividend, which will be paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th will be paid a $0.1012 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. Nexa Resources's payout ratio is presently -7.87%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC purchased a new stake in Nexa Resources S.A. (NYSE:NEXA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,341 shares of the company's stock, valued at approximately $126,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NEXA shares. Scotiabank reiterated an "underperform" rating on shares of Nexa Resources in a report on Wednesday, May 14th. BMO Capital Markets started coverage on shares of Nexa Resources in a report on Wednesday, April 16th. They set a "market perform" rating and a $6.00 price target on the stock. Royal Bank of Canada cut their price objective on Nexa Resources from $8.00 to $7.00 and set a "sector perform" rating for the company in a report on Wednesday, June 4th. Finally, Bank of America lowered their target price on Nexa Resources from $8.00 to $6.50 and set an "underperform" rating on the stock in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $6.46.

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.

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