Nexa Resources S.A. (NYSE:NEXA) Sees Significant Decrease in Short Interest

Nexa Resources S.A. (NYSE:NEXA) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 25,300 shares, a drop of 33.8% from the January 15th total of 38,200 shares. Based on an average daily trading volume, of 115,800 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC purchased a new stake in shares of Nexa Resources S.A. (NYSE:NEXA) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 14,341 shares of the company’s stock, valued at approximately $126,000.

Analysts Set New Price Targets

NEXA has been the topic of several recent analyst reports. Scotiabank decreased their target price on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a report on Friday, February 7th. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $7.50 to $7.80 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Nexa Resources currently has a consensus rating of “Hold” and an average price target of $7.16.

Nexa Resources Price Performance

Shares of NYSE:NEXA traded down $0.02 during trading on Friday, hitting $5.56. 12,413 shares of the company’s stock were exchanged, compared to its average volume of 30,436. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. Nexa Resources has a 52-week low of $5.10 and a 52-week high of $9.61. The business’s 50-day simple moving average is $7.01 and its 200 day simple moving average is $7.11. The company has a market cap of $736.37 million, a price-to-earnings ratio of -3.68 and a beta of 1.45.

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.