Nexa Resources (NYSE:NEXA) Releases Earnings Results, Beats Expectations By $0.25 EPS

Nexa Resources (NYSE:NEXA) issued its quarterly earnings results on Thursday. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.25, FiscalAI reports. Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%.The company had revenue of $903.00 million for the quarter, compared to analysts’ expectations of $823.27 million.

Nexa Resources Price Performance

Shares of NEXA stock traded down $0.16 during trading on Thursday, hitting $12.00. The company had a trading volume of 879,629 shares, compared to its average volume of 804,898. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37. Nexa Resources has a 52 week low of $4.44 and a 52 week high of $14.94. The stock’s 50-day moving average is $11.17 and its two-hundred day moving average is $7.59.

Wall Street Analysts Forecast Growth

NEXA has been the subject of several analyst reports. Wall Street Zen cut shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th. Citigroup lifted their price target on Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Morgan Stanley set a $7.70 price objective on Nexa Resources and gave the stock an “underweight” rating in a research report on Monday, December 15th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.81.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NEXA. Dimensional Fund Advisors LP raised its holdings in Nexa Resources by 3.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after purchasing an additional 26,829 shares in the last quarter. Citadel Advisors LLC boosted its stake in shares of Nexa Resources by 142.4% during the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock valued at $301,000 after purchasing an additional 35,411 shares in the last quarter. Millennium Management LLC increased its position in shares of Nexa Resources by 124.1% during the third quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after buying an additional 40,535 shares during the period. Susquehanna International Group LLP bought a new position in Nexa Resources in the third quarter worth about $134,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Nexa Resources in the fourth quarter worth about $1,984,000.

About Nexa Resources

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.