Nexa Resources (NYSE:NEXA) Sees Large Volume Increase – Time to Buy?

Nexa Resources S.A. (NYSE:NEXA) saw an uptick in trading volume on Monday . 32,721 shares traded hands during trading, an increase of 5% from the previous session’s volume of 31,059 shares.The stock last traded at $7.90 and had previously closed at $7.88.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Scotiabank lowered their price objective on shares of Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating for the company in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.31.

Nexa Resources Stock Up 0.5 %

The business’s 50 day moving average is $7.84 and its 200 day moving average is $7.36. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. The company has a market cap of $1.05 billion, a P/E ratio of -5.25 and a beta of 1.52.

Institutional Investors Weigh In On Nexa Resources

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

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.