Nexa Resources (NYSE:NEXA) Shares Climb 5.4% - Should You Buy?

Key Points

• Nexa Resources shares rose 5.4% to approximately $13.16, though trading volume was 87% below the average session volume.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $14.94; targets range from $14.20 to $15.50 among recent analysts.
• The company reported quarterly EPS of $0.64, below the $0.71 estimate, while revenue of $907.93 million slightly exceeded expectations. Several hedge funds increased their positions during the first quarter.

Shares of Nexa Resources S.A. (NYSE:NEXA - Get Free Report) rose 5.4% during trading on Friday. The stock traded as high as $13.04 and last traded at $13.1550. Approximately 111,536 shares changed hands during trading, a decline of 87% from the average session volume of 886,179 shares. The stock had previously closed at $12.48.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NEXA shares. Wall Street Zen cut Nexa Resources from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nexa Resources in a research note on Monday, July 20th. JPMorgan Chase & Co. increased their price objective on shares of Nexa Resources from $7.50 to $15.50 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Scotiabank increased their target price on shares of Nexa Resources from $14.00 to $15.00 and gave the company a "sector perform" rating in a report on Friday, August 28th. Finally, Morgan Stanley upgraded shares of Nexa Resources from an "equal weight" rating to an "overweight" rating and set a $14.20 price objective for the company in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Nexa Resources has a consensus rating of "Hold" and a consensus target price of $14.94.

Nexa Resources Trading Up 2.8%

The company has a quick ratio of 0.46, a current ratio of 0.80 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 0.14 and a beta of 0.94. The company's 50-day moving average is $13.41 and its 200-day moving average is $13.50.

Nexa Resources (NYSE:NEXA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.07). The firm had revenue of $907.93 million for the quarter, compared to analyst estimates of $906.52 million. Nexa Resources had a return on equity of 20.25% and a net margin of 8.02%. Research analysts anticipate that Nexa Resources S.A. will post 2.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nexa Resources

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Nexa Resources by 47.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,292,701 shares of the company's stock valued at $13,684,000 after acquiring an additional 414,474 shares during the period. Renaissance Technologies LLC boosted its holdings in Nexa Resources by 3.2% in the 1st quarter. Renaissance Technologies LLC now owns 879,872 shares of the company's stock worth $9,318,000 after buying an additional 27,072 shares during the period. Bank of America Corp DE lifted its holdings in Nexa Resources by 133.6% in the 1st quarter. Bank of America Corp DE now owns 734,476 shares of the company's stock worth $7,778,000 after purchasing an additional 420,005 shares in the last quarter. Pictet Asset Management Holding SA purchased a new stake in Nexa Resources in the 1st quarter worth $7,572,000. Finally, Walleye Capital LLC raised its holdings in shares of Nexa Resources by 33.6% during the 1st quarter. Walleye Capital LLC now owns 698,458 shares of the company's stock worth $7,397,000 after acquiring an additional 175,477 shares in the last quarter.

Nexa Resources Company Profile

Nexa Resources SA is a mining and metals company focused primarily on the exploration, extraction, processing and production of zinc, lead, copper and silver. The company also produces sulfuric acid and other related byproducts and specialty metals through its integrated mining and smelting operations.

Nexa operates mines and metallurgical facilities in Brazil and Peru, serving industrial customers and markets that use zinc and other base metals in applications such as galvanizing, construction, transportation, infrastructure and manufacturing.

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