Nexa Resources S.A. (NYSE:NEXA) Short Interest Update

Nexa Resources S.A. (NYSE:NEXA) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totalling 29,700 shares, a decline of 33.9% from the November 30th total of 44,900 shares. Based on an average daily trading volume, of 33,500 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NEXA shares. Scotiabank reduced their price objective on shares of Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating for the company in a research report on Monday, November 4th. Morgan Stanley upgraded shares of 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 research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.31.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC increased its position in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

Nexa Resources Price Performance

NEXA stock traded up $0.23 during midday trading on Monday, reaching $8.98. The stock had a trading volume of 68,495 shares, compared to its average volume of 31,522. Nexa Resources has a 52-week low of $5.10 and a 52-week high of $8.99. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -5.95 and a beta of 1.52. The company’s fifty day simple moving average is $7.95 and its 200 day simple moving average is $7.39. The company has a current ratio of 1.13, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39.

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.