Nexa Resources (NYSE:NEXA) Shares Gap Down – Time to Sell?

Nexa Resources S.A. (NYSE:NEXA) shares gapped down before the market opened on Thursday . The stock had previously closed at $14.25, but opened at $13.54. Nexa Resources shares last traded at $13.5490, with a volume of 138,481 shares.

Analyst Ratings Changes

Several analysts recently commented on NEXA shares. JPMorgan Chase & Co. upped their price target on shares of Nexa Resources from $7.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, July 24th. Morgan Stanley lifted their price objective on shares of Nexa Resources from $11.50 to $12.50 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a report on Monday, July 20th. Scotiabank increased their target price on shares of Nexa Resources from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Friday, August 28th. Finally, Bank of America raised their price target on Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, July 9th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $14.60.

Nexa Resources Trading Down 6.4%

The company has a current ratio of 0.80, a quick ratio of 0.46 and a debt-to-equity ratio of 1.08. The business has a 50 day moving average price of $13.69 and a 200-day moving average price of $13.23. The firm has a market capitalization of $1.77 billion, a PE ratio of 6.38, a P/E/G ratio of 0.16 and a beta of 0.95.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.07). The company had revenue of $907.93 million during the quarter, compared to analyst estimates of $906.52 million. Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%. Analysts expect that Nexa Resources S.A. will post 2.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NEXA. Financial Management Professionals Inc. acquired a new stake in shares of Nexa Resources during the 2nd quarter worth about $28,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Nexa Resources during the fourth quarter valued at approximately $36,000. Royal Bank of Canada lifted its stake in shares of Nexa Resources by 173.8% during the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock valued at $47,000 after buying an additional 2,784 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new stake in Nexa Resources during the fourth quarter worth approximately $44,000. Finally, Quantbot Technologies LP purchased a new stake in Nexa Resources in the 2nd quarter worth approximately $105,000.

About Nexa Resources

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.