Nexa Resources (NYSE:NEXA) Shares Down 0.7% – What’s Next?

Nexa Resources S.A. (NYSE:NEXA)’s stock price dropped 0.7% during trading on Monday . The company traded as low as $7.42 and last traded at $7.55. Approximately 43,648 shares changed hands during trading, an increase of 46% from the average daily volume of 29,862 shares. The stock had previously closed at $7.60.

Wall Street Analysts Forecast Growth

Separately, Scotiabank decreased their target price on shares of Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating on the stock in a research report on Monday, November 4th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Nexa Resources presently has a consensus rating of “Hold” and a consensus price target of $7.25.

Nexa Resources Stock Up 1.3 %

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 business has a 50-day simple moving average of $7.59 and a two-hundred day simple moving average of $7.33. The stock has a market capitalization of $1.03 billion, a P/E ratio of -5.13, a PEG ratio of 6.77 and a beta of 1.52.

Institutional Trading of Nexa Resources

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

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.