Nexa Resources S.A. (NYSE:NEXA) Sees Significant Decrease in Short Interest

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 29,700 shares, a decline of 33.9% from the November 30th total of 44,900 shares. Based on an average daily volume of 33,500 shares, the short-interest ratio is presently 0.9 days. Currently, 0.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NEXA shares. Scotiabank dropped their price target on Nexa Resources from $6.00 to $5.75 and set a "sector underperform" rating on the stock in a report on Monday, November 4th. Morgan Stanley raised Nexa Resources from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $7.31.

Institutional Trading of Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Renaissance Technologies LLC raised its position in shares of Nexa Resources S.A. (NYSE:NEXA - Free Report) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,792 shares of the company's stock after acquiring 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 Stock Up 2.6 %

NEXA traded up $0.23 during trading on Monday, reaching $8.98. 68,495 shares of the stock traded hands, compared to its average volume of 31,522. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -5.95 and a beta of 1.52. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. Nexa Resources has a fifty-two week low of $5.10 and a fifty-two week high of $8.99. The stock's 50-day simple moving average is $7.95 and its two-hundred day simple moving average is $7.39.

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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