Nexa Resources (NYSE:NEXA) Stock Price Down 3.1% – What’s Next?

Nexa Resources S.A. (NYSE:NEXA)’s share price fell 3.1% during mid-day trading on Wednesday . The company traded as low as $5.99 and last traded at $6.01. 18,280 shares changed hands during trading, a decline of 81% from the average session volume of 98,255 shares. The stock had previously closed at $6.20.

Wall Street Analysts Forecast Growth

NEXA has been the subject of several analyst reports. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and raised their target price for the company 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 report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Nexa Resources currently has a consensus rating of “Hold” and a consensus price target of $7.56.

Nexa Resources Trading Up 5.0 %

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 business has a fifty day moving average of $7.71 and a two-hundred day moving average of $7.33.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP boosted its holdings in Nexa Resources S.A. (NYSE:NEXA) by 11.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 593,983 shares of the company’s stock after purchasing an additional 63,197 shares during the quarter. Dimensional Fund Advisors LP owned 0.45% of Nexa Resources worth $4,538,000 at the end of the most recent reporting period.

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.