Short Interest in Nexa Resources S.A. (NYSE:NEXA) Expands By 61.1%

Nexa Resources S.A. (NYSE:NEXA) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 250,526 shares, a growth of 61.1% from the November 30th total of 155,556 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 485,950 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 485,950 shares, the short-interest ratio is currently 0.5 days. Approximately 0.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup initiated coverage on shares of Nexa Resources in a research report on Tuesday, September 16th. They issued a “neutral” rating and a $5.50 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Morgan Stanley set a $7.70 price objective on shares of Nexa Resources and gave the stock an “underweight” rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday, December 22nd. Finally, Wall Street Zen raised Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. Six analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $6.67.

Nexa Resources Price Performance

Shares of NYSE:NEXA traded up $0.55 during trading on Friday, hitting $9.40. 1,177,617 shares of the company’s stock were exchanged, compared to its average volume of 531,933. The business’s 50-day simple moving average is $6.72 and its 200 day simple moving average is $5.58. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -78.34, a PEG ratio of 0.46 and a beta of 0.64. Nexa Resources has a 52-week low of $4.44 and a 52-week high of $9.61. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.14). Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%.The business had revenue of $763.52 million during the quarter, compared to the consensus estimate of $649.86 million. As a group, equities analysts predict that Nexa Resources will post 1.03 EPS for the current year.

Hedge Funds Weigh In On Nexa Resources

A number of large investors have recently added to or reduced their stakes in NEXA. Assenagon Asset Management S.A. acquired a new stake in shares of Nexa Resources in the 3rd quarter worth $57,000. GSA Capital Partners LLP raised its stake in Nexa Resources by 7.5% in the third quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock valued at $178,000 after buying an additional 2,504 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Nexa Resources by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after acquiring an additional 26,829 shares in the last quarter. Citadel Advisors LLC grew its stake in shares of Nexa Resources by 142.4% during the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after acquiring an additional 35,411 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Nexa Resources by 124.1% during the third quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after acquiring an additional 40,535 shares in the last quarter.

Nexa Resources Company Profile

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.