Short Interest in Nexa Resources S.A. (NYSE:NEXA) Decreases By 29.9%

Key Points

• Short interest in Nexa Resources S.A. decreased by 29.9% in August, totaling 8,200 shares compared to 11,700 shares two weeks prior.
• Several analysts have downgraded the stock, with Scotiabank setting a price target of $4.00, resulting in an average rating of "Strong Sell" and a price target of $5.70.
• Nexa Resources reported earnings of $0.11 per share, exceeding estimates, with quarterly revenue of $708.42 million against analyst expectations of $625.20 million.

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 8,200 shares, a decrease of 29.9% from the August 15th total of 11,700 shares. Based on an average daily volume of 26,100 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 26,100 shares, the short-interest ratio is currently 0.3 days.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price objective on shares of Nexa Resources from $8.00 to $7.00 and set a "sector perform" rating on the stock in a report on Wednesday, June 4th. Morgan Stanley lowered Nexa Resources from an "equal weight" rating to an "underweight" rating and lowered their price target for the company 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 report on Tuesday, August 5th. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Strong Sell" and an average target price of $5.70.

Nexa Resources Price Performance

Shares of NEXA stock opened at $5.13 on Tuesday. The firm has a market cap of $678.75 million, a price-to-earnings ratio of -7.54 and a beta of 0.89. Nexa Resources has a 12 month low of $4.44 and a 12 month high of $9.61. The company has a quick ratio of 0.64, a current ratio of 0.99 and a debt-to-equity ratio of 1.54. The stock has a 50-day moving average price of $4.89 and a 200 day moving average price of $5.23.

Nexa Resources (NYSE:NEXA - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.16. The company had revenue of $708.42 million for the quarter, compared to analyst estimates of $625.20 million. Nexa Resources had a negative net margin of 3.26% and a negative return on equity of 6.54%. Research analysts expect 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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