Nexa Resources S.A. (NYSE:NEXA – Get Rating) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 61,500 shares, a drop of 32.8% from the May 15th total of 91,500 shares. Based on an average daily volume of 127,100 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.1% of the company’s stock are short sold.
Separately, Morgan Stanley increased their price objective on Nexa Resources from $8.00 to $9.80 in a report on Wednesday, March 23rd.
NYSE:NEXA traded up $0.10 during mid-day trading on Tuesday, hitting $6.34. 2,088 shares of the stock were exchanged, compared to its average volume of 104,178. The stock has a market capitalization of $839.67 million, a price-to-earnings ratio of 5.33, a price-to-earnings-growth ratio of 0.46 and a beta of 1.48. The firm’s 50-day simple moving average is $9.04 and its 200 day simple moving average is $8.63. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 1.46. Nexa Resources has a fifty-two week low of $6.19 and a fifty-two week high of $12.86.
Nexa Resources (NYSE:NEXA – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The business had revenue of $722.14 million during the quarter, compared to analysts’ expectations of $729.48 million. Nexa Resources had a return on equity of 8.99% and a net margin of 5.64%. On average, analysts predict that Nexa Resources will post 2.95 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in NEXA. Marshall Wace North America L.P. bought a new position in shares of Nexa Resources in the 1st quarter valued at $72,000. Goldman Sachs Group Inc. bought a new position in shares of Nexa Resources in the 2nd quarter valued at $91,000. Morgan Stanley increased its stake in shares of Nexa Resources by 136.0% in the 2nd quarter. Morgan Stanley now owns 189,711 shares of the company’s stock valued at $1,664,000 after purchasing an additional 109,330 shares during the last quarter. BlackRock Inc. bought a new position in shares of Nexa Resources in the 3rd quarter valued at $397,000. Finally, GSA Capital Partners LLP bought a new position in shares of Nexa Resources in the 3rd quarter valued at $152,000. 7.25% of the stock is owned by hedge funds and other institutional investors.
About Nexa Resources (Get Rating)
Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business. The company also produces zinc, silver, gold, copper cement, lead, sulfuric acid, sulfur dioxide, copper sulfate, and limestone deposits. It owns and operates five underground polymetallic mines, including three located in the Central Andes of Peru; and two located in the State of Minas Gerais in Brazil.
