Nexa Resources (NYSE:NEXA) Trading Down 6.6% – Time to Sell?

Nexa Resources S.A. (NYSE:NEXA)’s share price traded down 6.6% on Tuesday . The stock traded as low as $6.51 and last traded at $6.51. 21,605 shares were traded during trading, a decline of 86% from the average session volume of 155,821 shares. The stock had previously closed at $6.97.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NEXA shares. Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $7.50 to $7.80 in a research note on Thursday, December 12th. Scotiabank lifted their price objective on shares of Nexa Resources from $5.75 to $7.00 and gave the company a “sector underperform” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.56.

Nexa Resources Price Performance

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 50-day moving average price of $7.89 and a 200 day moving average price of $7.38. The stock has a market capitalization of $916.48 million, a price-to-earnings ratio of -4.58 and a beta of 1.48.

Institutional Trading of Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC grew its holdings in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 341,792 shares of the company’s stock after purchasing an additional 12,092 shares during the quarter. Renaissance Technologies LLC owned approximately 0.26% of Nexa Resources worth $2,611,000 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.