Nexa Resources (NYSE:NEXA) Shares Gap Up - What's Next?

Key Points

• Nexa Resources shares jumped from a $13.80 close to a $14.45 open and last traded at $14.54, near the analyst consensus price target of $14.60.
• Analyst sentiment remains cautious: six analysts rate the stock a Hold and one rates it a Sell, resulting in a consensus “Reduce” rating despite several recent target-price increases.
• The company reported quarterly EPS of $0.64, below the $0.71 estimate, while revenue of $907.93 million slightly exceeded forecasts; analysts expect full-year EPS of $2.59.

Shares of Nexa Resources S.A. (NYSE:NEXA - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $13.80, but opened at $14.45. Nexa Resources shares last traded at $14.54, with a volume of 135,235 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on NEXA shares. Morgan Stanley lifted their target price on shares of Nexa Resources from $11.50 to $12.50 and gave the company an "equal weight" rating in a report on Wednesday, July 8th. Bank of America raised their price objective on Nexa Resources from $12.00 to $14.00 and gave the company an "underperform" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. upped their target price on Nexa Resources from $7.50 to $15.50 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Wall Street Zen lowered Nexa Resources from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Nexa Resources in a report on Monday, July 20th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $14.60.

Nexa Resources Stock Performance

The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.46 and a current ratio of 0.80. The company has a market capitalization of $1.91 billion, a PE ratio of 6.93, a PEG ratio of 0.16 and a beta of 0.95. The company has a 50 day moving average price of $13.61 and a 200 day moving average price of $13.19.

Nexa Resources (NYSE:NEXA - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.07). The company had revenue of $907.93 million during the quarter, compared to analyst estimates of $906.52 million. Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%. Equities analysts forecast that Nexa Resources S.A. will post 2.59 EPS for the current year.

Institutional Trading of Nexa Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in shares of Nexa Resources in the 2nd quarter worth approximately $28,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Nexa Resources in the 4th quarter valued at about $36,000. Royal Bank of Canada boosted its position in shares of Nexa Resources by 173.8% during the first quarter. Royal Bank of Canada now owns 4,386 shares of the company's stock worth $47,000 after buying an additional 2,784 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Nexa Resources during the fourth quarter worth approximately $44,000. Finally, Quantbot Technologies LP bought a new position in Nexa Resources in the 2nd quarter worth approximately $105,000.

Nexa Resources Company Profile

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.

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