Nexa Resources (NYSE:NEXA) Sees Unusually-High Trading Volume – Here’s Why

Nexa Resources S.A. (NYSE:NEXA) shares saw strong trading volume on Monday . 32,721 shares were traded during mid-day trading, an increase of 5% from the previous session’s volume of 31,059 shares.The stock last traded at $7.90 and had previously closed at $7.88.

Analysts Set New Price Targets

A number of research analysts have recently commented on NEXA shares. Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Scotiabank decreased their price target on shares of Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating on the stock in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.31.

Nexa Resources Stock Performance

The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. The firm’s 50-day moving average price is $7.85 and its two-hundred day moving average price is $7.36. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.61 and a beta of 1.52.

Institutional Trading of Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Renaissance Technologies LLC lifted its stake in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 341,792 shares of the company’s stock after buying an additional 12,092 shares during the quarter. Renaissance Technologies LLC owned about 0.26% of Nexa Resources worth $2,611,000 as of its most recent SEC filing.

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.