Short Interest in Nexa Resources S.A. (NYSE:NEXA) Decreases By 38.7%

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 18,200 shares, a decrease of 38.7% from the December 15th total of 29,700 shares. Based on an average daily volume of 114,600 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages have commented on NEXA. Morgan Stanley upgraded shares of Nexa Resources from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $7.50 to $7.80 in a research note on Thursday, December 12th. Scotiabank increased their price target on Nexa Resources from $5.75 to $7.00 and gave the company a "sector underperform" rating in a research note on Monday, January 6th. Two equities 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, the stock presently has an average rating of "Hold" and a consensus target price of $7.56.

Nexa Resources Trading Up 0.7 %

NYSE NEXA traded up $0.04 during trading hours on Tuesday, hitting $6.16. 39,087 shares of the company were exchanged, compared to its average volume of 108,673. Nexa Resources has a 52 week low of $5.10 and a 52 week high of $9.61. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. The stock has a 50-day moving average price of $7.77 and a 200 day moving average price of $7.35. The stock has a market cap of $815.83 million, a PE ratio of -4.08 and a beta of 1.48.

Institutional Trading of Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Renaissance Technologies LLC lifted its position in Nexa Resources S.A. (NYSE:NEXA - Free Report) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 341,792 shares of the company's stock after acquiring 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.

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