Short Interest in Nexa Resources S.A. (NYSE:NEXA) Drops By 15.7%

Nexa Resources S.A. (NYSE:NEXA) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 33,800 shares, a decrease of 15.7% from the June 15th total of 40,100 shares. Based on an average daily trading volume, of 26,700 shares, the short-interest ratio is presently 1.3 days. Approximately 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Nexa Resources S.A. (NYSE:NEXA) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,117,846 shares of the company’s stock, valued at approximately $8,004,000.

Nexa Resources Stock Up 1.7 %

Shares of Nexa Resources stock traded up $0.13 during trading on Tuesday, reaching $7.65. The company’s stock had a trading volume of 19,472 shares, compared to its average volume of 34,066. Nexa Resources has a one year low of $4.14 and a one year high of $8.09. The stock has a 50-day moving average price of $7.69 and a two-hundred day moving average price of $7.29. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.63 and a current ratio of 0.98.

Nexa Resources (NYSE:NEXA) last announced its earnings results on Thursday, May 2nd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). The company had revenue of $579.78 million for the quarter, compared to analyst estimates of $587.03 million. Nexa Resources had a negative return on equity of 4.82% and a negative net margin of 11.81%. Analysts expect that Nexa Resources will post 0.5 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America lifted their target price on shares of Nexa Resources from $7.50 to $8.00 and gave the stock an “underperform” rating in a report on Wednesday, June 26th. Scotiabank lifted their price objective on Nexa Resources from $6.00 to $7.00 and gave the stock a “sector underperform” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Morgan Stanley lifted their price target on Nexa Resources from $7.00 to $7.50 and gave the stock an “underweight” rating in a research report on Friday, June 21st. Finally, BMO Capital Markets increased their price objective on Nexa Resources from $7.00 to $7.50 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Nexa Resources currently has an average rating of “Hold” and a consensus price target of $7.25.

Nexa Resources Company Profile

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.