Nexa Resources (NYSE:NEXA) Reaches New 52-Week Low - What's Next?

Nexa Resources S.A. (NYSE:NEXA - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The stock traded as low as $5.05 and last traded at $5.07, with a volume of 2370 shares trading hands. The stock had previously closed at $5.17.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank of America lowered their price objective on shares of Nexa Resources from $8.00 to $6.50 and set an "underperform" rating on the stock in a research note on Monday. Scotiabank reduced their price objective on Nexa Resources from $7.00 to $5.00 and set a "sector underperform" rating on the stock in a research note on Friday, February 7th. Finally, Morgan Stanley upgraded Nexa Resources from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $7.50 to $7.80 in a research report on Thursday, December 12th. 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's stock. Based on data from MarketBeat, Nexa Resources presently has a consensus rating of "Hold" and an average price target of $6.86.

Nexa Resources Stock Performance

The company's 50-day moving average price is $6.01 and its two-hundred day moving average price is $6.97. The company has a market cap of $677.43 million, a P/E ratio of -3.32 and a beta of 1.50. The company has a current ratio of 1.13, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39.

Nexa Resources (NYSE:NEXA - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($1.20). The company had revenue of $740.92 million during the quarter, compared to analyst estimates of $731.81 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. As a group, equities analysts forecast that Nexa Resources S.A. will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC acquired a new position in shares of Nexa Resources S.A. (NYSE:NEXA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,341 shares of the company's stock, valued at approximately $126,000.

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.

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