Nexa Resources (NYSE:NEXA) Stock Price Down 0.7% – Here’s Why

Nexa Resources S.A. (NYSE:NEXA) shares traded down 0.7% during mid-day trading on Monday . The stock traded as low as $7.42 and last traded at $7.55. 43,648 shares changed hands during trading, an increase of 46% from the average session volume of 29,862 shares. The stock had previously closed at $7.60.

Analysts Set New Price Targets

Separately, Scotiabank decreased their price target on shares of Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating for the company in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.25.

Nexa Resources Price Performance

The stock has a 50-day simple moving average of $7.54 and a 200-day simple moving average of $7.32. 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 Investors Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Renaissance Technologies LLC grew its holdings in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 quarter.

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.