Nexa Resources S.A. (NYSE:NEXA) Short Interest Down 47.3% in March

Nexa Resources S.A. (NYSE:NEXA) saw a significant decline in short interest during the month of 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 trading volume of 110,500 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

Nexa Resources Trading Up 0.9 %

NYSE:NEXA traded up $0.06 during trading hours on Friday, hitting $6.15. The stock had a trading volume of 27,519 shares, compared to its average volume of 47,766. Nexa Resources has a one year low of $5.04 and a one year high of $9.61. The company has a market cap of $813.84 million, a price-to-earnings ratio of -3.99 and a beta of 1.50. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. The business’s 50 day moving average is $5.72 and its 200-day moving average is $6.91.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. The business had revenue of $740.92 million for the quarter, compared to analyst estimates of $731.81 million. Sell-side analysts anticipate that Nexa Resources will post 1.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on NEXA. Morgan Stanley upgraded 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. Scotiabank reduced their target price on shares of 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. Finally, Bank of America dropped their price target on shares of Nexa Resources from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Monday, March 10th.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP increased its holdings in shares of Nexa Resources S.A. (NYSE:NEXA) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 628,414 shares of the company’s stock after purchasing an additional 7,220 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.47% of Nexa Resources worth $5,531,000 as of its most recent SEC filing.

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.