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

Shares of Nexa Resources S.A. (NYSE:NEXA) gapped up prior to trading on Wednesday . The stock had previously closed at $5.56, but opened at $5.90. Nexa Resources shares last traded at $5.74, with a volume of 4,831 shares trading hands.

Analyst Upgrades and Downgrades

NEXA has been the subject of several recent analyst reports. Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $7.50 to $7.80 in a research note on Thursday, December 12th. Scotiabank dropped their price objective on shares of Nexa Resources from $5.00 to $4.50 and set a “sector underperform” rating for the company in a report on Monday. Finally, Bank of America reduced their target price on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating on the stock in a report on Monday, March 10th.

Nexa Resources Trading Up 1.7 %

The company has a current ratio of 1.13, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The stock has a market cap of $794.63 million, a P/E ratio of -3.90 and a beta of 1.09. The business’s fifty day simple moving average is $5.67 and its 200 day simple moving average is $6.86.

Nexa Resources (NYSE:NEXA) last announced 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). The company had revenue of $740.92 million for the quarter, compared to analyst estimates of $731.81 million. Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. As a group, analysts expect that Nexa Resources S.A. will post 1.03 EPS 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 purchased a new stake in Nexa Resources S.A. (NYSE:NEXA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 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.