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

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 17,700 shares, a decline of 47.3% from the February 28th total of 33,600 shares. Based on an average daily trading volume, of 110,500 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company's stock are short sold.

Nexa Resources Stock Performance

Nexa Resources stock traded down $0.08 during trading hours on Monday, reaching $6.12. 20,138 shares of the company were exchanged, compared to its average volume of 47,655. 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 stock has a 50-day moving average of $5.71 and a 200 day moving average of $6.92. The firm has a market cap of $809.86 million, a price-to-earnings ratio of -3.97 and a beta of 1.50.

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

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Institutional Investors Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP raised its holdings in Nexa Resources S.A. (NYSE:NEXA - Free Report) by 1.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 628,414 shares of the company's stock after buying an additional 7,220 shares during the quarter. Dimensional Fund Advisors LP owned 0.47% of Nexa Resources worth $5,531,000 at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

NEXA has been the topic of several recent research reports. Bank of America cut 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 report on Monday, March 10th. Morgan Stanley upgraded shares of Nexa Resources from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Finally, Scotiabank decreased their price objective on shares of Nexa Resources from $7.00 to $5.00 and set a "sector underperform" rating for the company in a report on Friday, February 7th.

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.