Nexa Resources (NYSE:NEXA) Sets New 52-Week Low – What’s Next?

Shares of Nexa Resources S.A. (NYSE:NEXA) reached a new 52-week low on Wednesday . The stock traded as low as $5.05 and last traded at $5.07, with a volume of 2370 shares changing hands. The stock had previously closed at $5.17.

Analyst Upgrades and Downgrades

Several research firms recently commented on NEXA. Bank of America cut their target price on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating for the company in a research report on Monday. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Finally, Scotiabank lowered their target price on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.86.

Nexa Resources Price Performance

The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. The company has a market capitalization of $677.43 million, a price-to-earnings ratio of -3.32 and a beta of 1.50. The company has a 50-day moving average price of $6.01 and a 200-day moving average price of $6.97.

Nexa Resources (NYSE:NEXA) last posted its earnings results 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). Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. The business had revenue of $740.92 million during the quarter, compared to analyst estimates of $731.81 million. On average, equities research analysts expect that Nexa Resources S.A. will post 1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC acquired a new position in Nexa Resources S.A. (NYSE:NEXA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.