Nexa Resources (NYSE:NEXA) Shares Gap Up – Should You Buy?

Nexa Resources S.A. (NYSE:NEXA)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $12.04, but opened at $13.49. Nexa Resources shares last traded at $13.8780, with a volume of 464,455 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NEXA shares. Citigroup lifted their price target on shares of Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Scotiabank upped their price objective on shares of Nexa Resources from $14.00 to $14.50 and gave the stock a “sector perform” rating in a research report on Monday, June 15th. Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexa Resources in a research report on Wednesday, April 22nd. Finally, Wall Street Zen cut shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.43.

Nexa Resources Stock Performance

The firm has a market cap of $1.78 billion, a PE ratio of 8.45, a P/E/G ratio of 0.28 and a beta of 0.94. The firm has a 50-day moving average price of $14.16 and a two-hundred day moving average price of $12.23. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 1.13.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%.The firm had revenue of $888.32 million during the quarter, compared to analysts’ expectations of $885.90 million. Research analysts forecast that Nexa Resources S.A. will post 2.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

Large investors have recently modified their holdings of the business. Sagil Capital LLP acquired a new stake in shares of Nexa Resources in the fourth quarter valued at about $11,651,000. Marshall Wace LLP acquired a new position in Nexa Resources during the fourth quarter worth about $8,653,000. Pictet Asset Management Holding SA acquired a new position in Nexa Resources during the first quarter worth about $7,572,000. Walleye Capital LLC purchased a new stake in Nexa Resources during the 4th quarter valued at about $4,628,000. Finally, Renaissance Technologies LLC grew its stake in Nexa Resources by 120.8% during the 4th quarter. Renaissance Technologies LLC now owns 852,800 shares of the company’s stock valued at $7,547,000 after acquiring an additional 466,500 shares in the last quarter.

About Nexa Resources

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.