Nexa Resources (NYSE:NEXA) Shares Up 9% – Still a Buy?

Nexa Resources S.A. (NYSE:NEXA)’s share price was up 9% during mid-day trading on Thursday . The stock traded as high as $5.94 and last traded at $5.85. Approximately 46,975 shares changed hands during trading, a decline of 1% from the average daily volume of 47,417 shares. The stock had previously closed at $5.37.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NEXA shares. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Scotiabank decreased their price target on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating for the company in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.16.

Nexa Resources Stock Performance

The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. The firm has a market capitalization of $790.66 million, a PE ratio of -3.95 and a beta of 1.45. The company’s fifty day simple moving average is $6.85 and its 200 day simple moving average is $7.08.

Institutional Trading of Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP lifted its position in Nexa Resources S.A. (NYSE:NEXA) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 628,414 shares of the company’s stock after purchasing an additional 7,220 shares during the quarter. Dimensional Fund Advisors LP owned about 0.47% of Nexa Resources worth $5,531,000 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.