Nexa Resources (NYSE:NEXA) Sees Unusually-High Trading Volume - Here's What Happened

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) saw strong trading volume on Monday . 32,721 shares changed 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently 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 research report on Thursday, December 12th. Scotiabank decreased their target price on Nexa Resources from $6.00 to $5.75 and set a "sector underperform" rating on the stock in a research 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 given a buy rating to the stock. Based on data from MarketBeat.com, Nexa Resources presently has an average rating of "Hold" and a consensus target price of $7.31.

Nexa Resources Trading Up 4.7 %

The company has a market cap of $1.09 billion, a PE ratio of -5.46 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 business has a 50 day simple moving average of $7.85 and a two-hundred day simple moving average of $7.36.

Institutional Trading of Nexa Resources

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