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

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

Nexa Resources Stock Up 2.6 %

Nexa Resources stock traded up $0.23 during mid-day trading on Monday, reaching $8.98. 68,495 shares of the company’s stock were exchanged, compared to its average volume of 31,522. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. Nexa Resources has a twelve month low of $5.10 and a twelve month high of $8.99. The company has a market cap of $1.19 billion, a P/E ratio of -5.95 and a beta of 1.52. The company has a fifty day moving average of $7.95 and a 200-day moving average of $7.39.

Institutional Trading of Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Renaissance Technologies LLC raised its stake in Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,792 shares of the company’s stock after purchasing an additional 12,092 shares during the period. Renaissance Technologies LLC owned about 0.26% of Nexa Resources worth $2,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $7.50 to $7.80 in a research report on Thursday, December 12th. Scotiabank cut their price objective on Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating on the stock in a report on Monday, November 4th. Two 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 company. Based on data from MarketBeat, Nexa Resources currently has an average rating of “Hold” and an average target price of $7.31.

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.