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

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 18,200 shares, a decrease of 38.7% from the December 31st 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 company are short sold.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NEXA shares. Morgan Stanley raised Nexa Resources from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Scotiabank boosted their target price on Nexa Resources from $5.75 to $7.00 and gave the company a "sector underperform" rating in a report on Monday, January 6th. Two 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.com, Nexa Resources currently has an average rating of "Hold" and an average target price of $7.56.

Institutional Trading of Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP boosted its position in shares of Nexa Resources S.A. (NYSE:NEXA - Free Report) by 11.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 593,983 shares of the company's stock after purchasing an additional 63,197 shares during the period. Dimensional Fund Advisors LP owned approximately 0.45% of Nexa Resources worth $4,538,000 at the end of the most recent reporting period.

Nexa Resources Trading Up 9.1 %

Shares of NYSE NEXA traded up $0.52 during midday trading on Wednesday, reaching $6.25. 45,100 shares of the stock were exchanged, compared to its average volume of 66,352. 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 capitalization of $827.61 million, a P/E ratio of -4.14 and a beta of 1.48. The stock has a 50 day moving average price of $7.47 and a 200-day moving average price of $7.24. Nexa Resources has a 52-week low of $5.10 and a 52-week high of $9.61.

Nexa Resources (NYSE:NEXA - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.06). Nexa Resources had a positive return on equity of 1.51% and a negative net margin of 7.48%. The business had revenue of $709.48 million for the quarter, compared to analysts' expectations of $727.74 million. During the same quarter last year, the company posted ($0.43) earnings per share. Equities research analysts expect that Nexa Resources will post 0.28 earnings per share for the current fiscal year.

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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