Nexa Resources S.A. (NYSE:NEXA) Short Interest Update

Key Points

• Nexa Resources experienced a significant rise in short interest, increasing by 80.0% from July to August, bringing the total to 11,700 shares as of August 15th.
• Analysts have downgraded Nexa Resources' stock ratings, with Morgan Stanley lowering its price target from $7.00 to $5.00 and Scotiabank setting a target of $4.00.
• Despite a challenging financial performance, Nexa Resources reported an EPS of $0.11 for the last quarter, exceeding analysts' expectations of ($0.05).

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totaling 11,700 shares, anincreaseof80.0% from the July 31st total of 6,500 shares. Based on an average daily volume of 30,800 shares, the days-to-cover ratio is currently 0.4 days. Currently,0.0% of the company's stock are sold short. Currently,0.0% of the company's stock are sold short. Based on an average daily volume of 30,800 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

NEXA has been the subject of a number of research analyst reports. Royal Bank Of Canada reduced their price target on shares of 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. Morgan Stanley lowered shares of Nexa Resources from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $7.00 to $5.00 in a research note on Tuesday, July 15th. Finally, Scotiabank set a $4.00 price objective on Nexa Resources and gave the stock a "sector underperform" rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Strong Sell" and a consensus target price of $5.70.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP grew its stake in Nexa Resources S.A. (NYSE:NEXA - Free Report) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 628,414 shares of the company's stock after buying an additional 7,220 shares during the period. Dimensional Fund Advisors LP owned approximately 0.47% of Nexa Resources worth $5,531,000 as of its most recent SEC filing.

Nexa Resources Price Performance

NYSE NEXA traded down $0.03 on Friday, reaching $4.84. The company's stock had a trading volume of 35,481 shares, compared to its average volume of 10,409. Nexa Resources has a twelve month low of $4.44 and a twelve month high of $9.61. 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 stock has a market cap of $640.35 million, a PE ratio of -7.11, a PEG ratio of 0.85 and a beta of 0.89. The firm's 50 day moving average is $4.90 and its two-hundred day moving average is $5.26.

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, topping 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 analyst estimates of $625.20 million. As a group, sell-side analysts predict that Nexa Resources will post 1.03 EPS for the current year.

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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