Nexa Resources (NYSE:NEXA) Sees Unusually-High Trading Volume - Should You Buy?

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) saw an uptick in trading volume on Tuesday . 33,211 shares traded hands during mid-day trading, an increase of 5% from the previous session's volume of 31,490 shares.The stock last traded at $8.86 and had previously closed at $8.98.

Wall Street Analysts Forecast Growth

NEXA has been the subject of a number of research reports. Scotiabank lowered their price target on 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. Morgan Stanley raised Nexa Resources from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Nexa Resources currently has an average rating of "Hold" and an average target price of $7.31.

Nexa Resources Price Performance

The firm has a 50-day simple moving average of $7.97 and a two-hundred day simple moving average of $7.40. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -5.83 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.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Renaissance Technologies LLC increased its holdings in Nexa Resources S.A. (NYSE:NEXA - Free Report) by 3.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

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.