Short Interest in Nexa Resources S.A. (NYSE:NEXA) Declines By 33.8%

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 25,300 shares, a drop of 33.8% from the January 15th total of 38,200 shares. Based on an average trading volume of 115,800 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company's shares are sold short.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley upgraded 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 research report on Thursday, December 12th. Scotiabank dropped their price target on Nexa Resources from $7.00 to $5.00 and set a "sector underperform" rating on the stock in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Nexa Resources presently has an average rating of "Hold" and an average target price of $7.16.

Nexa Resources Stock Down 6.0 %

Shares of NEXA stock traded down $0.34 on Tuesday, reaching $5.21. 44,986 shares of the company were exchanged, compared to its average volume of 48,396. Nexa Resources has a one year low of $5.10 and a one year high of $9.61. The company has a market cap of $689.35 million, a price-to-earnings ratio of -3.45 and a beta of 1.45. The company has a 50-day moving average of $6.96 and a 200-day moving average of $7.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP lifted its position in shares of Nexa Resources S.A. (NYSE:NEXA - Free Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 628,414 shares of the company's stock after purchasing 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 reporting period.

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.