Nexa Resources (NYSE:NEXA) Reaches New 52-Week High - Still a Buy?

Nexa Resources S.A. (NYSE:NEXA - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $8.73 and last traded at $8.68, with a volume of 7394 shares traded. The stock had previously closed at $8.60.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NEXA shares. Morgan Stanley upgraded Nexa Resources from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $7.50 to $7.80 in a research note on Thursday, December 12th. Scotiabank cut their target price on shares of Nexa Resources from $6.00 to $5.75 and set a "sector underperform" rating on the stock in a report on Monday, November 4th. 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 company's stock. Based on data from MarketBeat, Nexa Resources currently has a consensus rating of "Hold" and a consensus price target of $7.31.

Nexa Resources Stock Up 1.7 %

The company has a market capitalization of $1.16 billion, a PE ratio of -5.79 and a beta of 1.52. 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 firm has a 50 day simple moving average of $7.91 and a two-hundred day simple moving average of $7.38.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC raised its holdings in Nexa Resources S.A. (NYSE:NEXA - Free Report) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 341,792 shares of the company's stock after purchasing an additional 12,092 shares during the quarter. Renaissance Technologies LLC owned 0.26% of Nexa Resources worth $2,611,000 as of its most recent filing with the Securities and Exchange Commission.

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.