Nexa Resources S.A. (NYSE:NEXA) Short Interest Up 80.0% in August

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) saw a large growth in short interest during the month of August. As of August 15th, there was short interest totaling 11,700 shares, a growth of 80.0% from the July 31st total of 6,500 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily trading volume, of 30,800 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 30,800 shares, the short-interest ratio is currently 0.4 days. Currently, 0.0% of the company's stock are short sold.

Nexa Resources Price Performance

Nexa Resources stock traded up $0.07 during midday trading on Thursday, hitting $4.90. 27,128 shares of the company's stock were exchanged, compared to its average volume of 13,263. The company has a current ratio of 0.99, a quick ratio of 0.64 and a debt-to-equity ratio of 1.54. Nexa Resources has a 12-month low of $4.44 and a 12-month high of $9.61. The firm's 50 day simple moving average is $4.89 and its 200 day simple moving average is $5.24.

Nexa Resources (NYSE:NEXA - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.16. The business had revenue of $708.42 million during the quarter, compared to the consensus estimate of $625.20 million. Nexa Resources had a negative net margin of 3.26% and a negative return on equity of 6.54%. Equities research analysts forecast that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP raised its position in Nexa Resources S.A. (NYSE:NEXA - Free Report) by 1.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 628,414 shares of the company's stock after buying an additional 7,220 shares during the quarter. Dimensional Fund Advisors LP owned about 0.47% of Nexa Resources worth $5,531,000 as of its most recent filing with the SEC.

Analysts Set New Price Targets

Several research firms recently weighed in on NEXA. Scotiabank set a $4.00 target price on Nexa Resources and gave the stock a "sector underperform" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada reduced 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, Morgan Stanley cut shares of Nexa Resources from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $7.00 to $5.00 in a report on Tuesday, July 15th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Nexa Resources presently has an average rating of "Strong Sell" and an average target price of $5.70.

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.