Nexa Resources (NYSE:NEXA) Shares Up 7.6%

Nexa Resources S.A. (NYSE:NEXA) shot up 7.6% during trading on Thursday . The stock traded as high as $10.19 and last traded at $10.19. 502 shares traded hands during trading, a decline of 100% from the average session volume of 119,544 shares. The stock had previously closed at $9.47.

Several research firms have recently commented on NEXA. TheStreet raised shares of Nexa Resources from a “d+” rating to a “c” rating in a research report on Thursday, September 16th. Zacks Investment Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating and set a $9.75 price target for the company in a research report on Friday, August 6th. BMO Capital Markets raised shares of Nexa Resources from an “underperform” rating to a “market perform” rating and reduced their price target for the company from $13.50 to $10.00 in a research report on Thursday, August 19th. Finally, Morgan Stanley raised shares of Nexa Resources from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $10.00 to $8.90 in a research report on Tuesday, September 28th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Nexa Resources has an average rating of “Buy” and an average target price of $9.61.

The company’s fifty day moving average is $7.92 and its 200-day moving average is $9.13. The company has a market capitalization of $1.35 billion, a PE ratio of 8.86 and a beta of 1.65. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.53 and a current ratio of 1.89.

Nexa Resources (NYSE:NEXA) last released its earnings results on Thursday, July 29th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.57. The company had revenue of $686.19 million during the quarter, compared to analyst estimates of $648.93 million. Nexa Resources had a net margin of 6.34% and a return on equity of 12.73%. On average, sell-side analysts expect that Nexa Resources S.A. will post 1.93 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its holdings in Nexa Resources by 75.3% in the 2nd quarter. Van ECK Associates Corp now owns 8,188 shares of the company’s stock worth $72,000 after acquiring an additional 3,518 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Nexa Resources in the 1st quarter worth approximately $72,000. Goldman Sachs Group Inc. bought a new position in Nexa Resources in the 2nd quarter worth approximately $91,000. Squarepoint Ops LLC bought a new position in Nexa Resources in the 1st quarter worth approximately $111,000. Finally, Jane Street Group LLC bought a new position in Nexa Resources in the 1st quarter worth approximately $147,000. 7.83% of the stock is owned by institutional investors.

About Nexa Resources (NYSE:NEXA)

Nexa Resources SA engages in the production of zinc in Latin America. It operates through the following segments: Mining and Smelting. The Mining segment comprises of mines located in Peru and Brazil, which includes mineral exploration activities and the production of zinc, copper, and lead concentrates.

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