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

Nexa Resources S.A. (NYSE:NEXA)’s share price gapped up prior to trading on Monday . The stock had previously closed at $5.43, but opened at $5.77. Nexa Resources shares last traded at $5.60, with a volume of 13,747 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Scotiabank dropped their price objective on 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. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $7.50 to $7.80 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Nexa Resources presently has a consensus rating of “Hold” and an average target price of $7.16.

Nexa Resources Price Performance

The firm’s fifty day moving average price is $6.69 and its 200-day moving average price is $7.06. 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 stock has a market cap of $741.66 million, a P/E ratio of -3.60 and a beta of 1.45.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). The firm had revenue of $740.92 million during the quarter, compared to analysts’ expectations of $731.81 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. Analysts forecast that Nexa Resources S.A. will post 1.03 earnings per share for the current year.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC acquired a new stake in shares of Nexa Resources S.A. (NYSE:NEXA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,341 shares of the company’s stock, valued at approximately $126,000.

About Nexa Resources

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.