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

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 33,600 shares, a growth of 52.7% from the February 13th total of 22,000 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 112,700 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC bought a new position in Nexa Resources S.A. (NYSE:NEXA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,341 shares of the company's stock, valued at approximately $126,000.

Nexa Resources Price Performance

Shares of NYSE NEXA traded up $0.02 during midday trading on Wednesday, hitting $5.62. 16,098 shares of the company's stock were exchanged, compared to its average volume of 48,560. Nexa Resources has a 12-month low of $5.04 and a 12-month high of $9.61. 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 company has a market cap of $743.64 million, a price-to-earnings ratio of -3.65 and a beta of 1.50. The business's fifty day moving average price is $5.81 and its two-hundred day moving average price is $6.93.

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

Analyst Ratings Changes

A number of research analysts have weighed in on NEXA shares. Morgan Stanley raised Nexa Resources from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Bank of America reduced their target price on Nexa Resources from $8.00 to $6.50 and set an "underperform" rating for the company in a report on Monday, March 10th. Finally, Scotiabank reduced their target price on Nexa Resources from $7.00 to $5.00 and set a "sector underperform" rating for the company in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $6.86.

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.