Nexa Resources (NYSE:NEXA) Shares Gap Down to $5.65

Nexa Resources S.A. (NYSE:NEXAGet Rating) gapped down before the market opened on Friday . The stock had previously closed at $5.65, but opened at $5.22. Nexa Resources shares last traded at $5.27, with a volume of 370 shares changing hands.

Analysts Set New Price Targets

Separately, Morgan Stanley upgraded Nexa Resources from an “equal weight” rating to an “overweight” rating in a research report on Friday, September 16th.

Nexa Resources Trading Down 7.8 %

The company’s 50-day moving average is $5.87 and its 200 day moving average is $7.47. The company has a market cap of $690.01 million, a price-to-earnings ratio of 4.83, a price-to-earnings-growth ratio of 1.03 and a beta of 1.62. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.88.

Nexa Resources (NYSE:NEXAGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. Nexa Resources had a return on equity of 8.87% and a net margin of 5.36%. The company had revenue of $829.43 million during the quarter, compared to analyst estimates of $754.74 million. Research analysts predict that Nexa Resources S.A. will post 2.23 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Employees Retirement System of Texas acquired a new stake in Nexa Resources in the second quarter valued at $84,000. Counterpoint Mutual Funds LLC grew its holdings in Nexa Resources by 158.4% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 9,366 shares of the company’s stock valued at $87,000 after buying an additional 5,741 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Nexa Resources in the first quarter valued at approximately $138,000. Mackenzie Financial Corp increased its position in Nexa Resources by 101.8% during the second quarter. Mackenzie Financial Corp now owns 23,622 shares of the company’s stock worth $142,000 after purchasing an additional 11,917 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Nexa Resources by 92.6% during the 1st quarter. Van ECK Associates Corp now owns 15,771 shares of the company’s stock valued at $147,000 after buying an additional 7,583 shares during the period. Hedge funds and other institutional investors own 6.86% of the company’s stock.

Nexa Resources Company Profile

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Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business. The company also produces zinc, silver, gold, copper cement, lead, sulfuric acid, sulfur dioxide, copper sulfate, and limestone deposits. It owns and operates five underground polymetallic mines, including three located in the Central Andes of Peru; and two located in the State of Minas Gerais in Brazil.

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