Nexa Resources (NYSE:NEXA) Trading Down 3.1% – Here’s What Happened

Nexa Resources S.A. (NYSE:NEXA)’s stock price fell 3.1% on Wednesday . The company traded as low as $5.99 and last traded at $6.01. 18,280 shares were traded during trading, a decline of 81% from the average session volume of 98,255 shares. The stock had previously closed at $6.20.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Scotiabank boosted their target price on Nexa Resources from $5.75 to $7.00 and gave the company a “sector underperform” rating in a research report on Monday, January 6th. Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.56.

Nexa Resources Price Performance

The company’s 50-day simple moving average is $7.77 and its 200 day simple moving average is $7.35. The company has a market cap of $811.86 million, a PE ratio of -4.06 and a beta of 1.48. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP raised its holdings in shares of Nexa Resources S.A. (NYSE:NEXA) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 593,983 shares of the company’s stock after acquiring an additional 63,197 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.45% of Nexa Resources worth $4,538,000 as of its most recent filing with the SEC.

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.