Nexa Resources (NYSE:NEXA) Shares Gap Up – Should You Buy?

Nexa Resources S.A. (NYSE:NEXA) shares gapped up prior to trading on Thursday . The stock had previously closed at $12.04, but opened at $13.49. Nexa Resources shares last traded at $13.8780, with a volume of 464,455 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NEXA. Citigroup boosted their target price on Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexa Resources in a research report on Wednesday, April 22nd. Wall Street Zen downgraded Nexa Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Scotiabank boosted their price objective on Nexa Resources from $14.00 to $14.50 and gave the stock a “sector perform” rating in a research note on Monday, June 15th. Finally, Zacks Research upgraded Nexa Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Nexa Resources has a consensus rating of “Hold” and a consensus price target of $11.43.

Nexa Resources Stock Up 11.5%

The company has a debt-to-equity ratio of 1.13, a current ratio of 0.85 and a quick ratio of 0.54. The company has a market capitalization of $1.78 billion, a PE ratio of 8.45, a P/E/G ratio of 0.28 and a beta of 0.94. The business’s 50 day simple moving average is $14.16 and its 200 day simple moving average is $12.23.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. The business had revenue of $888.32 million during the quarter, compared to analysts’ expectations of $885.90 million. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. As a group, analysts anticipate that Nexa Resources S.A. will post 2.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey purchased a new stake in Nexa Resources in the fourth quarter valued at $36,000. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Nexa Resources during the 4th quarter worth $44,000. Royal Bank of Canada grew its holdings in shares of Nexa Resources by 173.8% during the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after purchasing an additional 2,784 shares during the period. First Affirmative Financial Network acquired a new stake in shares of Nexa Resources during the 3rd quarter worth about $63,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Nexa Resources during the 4th quarter worth about $83,000.

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.