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

Nexa Resources S.A. (NYSE:NEXA) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 17,700 shares, a decrease of 47.3% from the February 28th total of 33,600 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 110,500 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NEXA shares. Scotiabank reduced 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 price objective for the stock from $7.50 to $7.80 in a research note on Thursday, December 12th. Finally, Bank of America lowered their price objective on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Monday, March 10th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC bought a new position in Nexa Resources S.A. (NYSE:NEXA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,341 shares of the company’s stock, valued at approximately $126,000.

Nexa Resources Trading Up 0.9 %

NYSE:NEXA traded up $0.06 during mid-day trading on Friday, hitting $6.15. 20,963 shares of the stock traded hands, compared to its average volume of 47,610. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $813.84 million, a price-to-earnings ratio of -3.99 and a beta of 1.50. Nexa Resources has a 52 week low of $5.04 and a 52 week high of $9.61. The firm’s 50 day moving average is $5.72 and its two-hundred day moving average is $6.91.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). The business had revenue of $740.92 million for the quarter, compared to the consensus estimate of $731.81 million. Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. On average, equities research analysts predict that Nexa Resources will post 1.03 earnings per share for the current year.

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.