Nexa Resources (NYSE:NEXA) Announces Quarterly Earnings Results

Nexa Resources (NYSE:NEXA) posted its quarterly earnings data on Wednesday. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07), FiscalAI reports. Nexa Resources had a net margin of 8.02% and a return on equity of 20.93%. The firm had revenue of $907.93 million for the quarter, compared to analysts’ expectations of $906.52 million.

Nexa Resources Stock Performance

Nexa Resources stock traded up $0.10 during trading hours on Friday, reaching $14.39. 214,424 shares of the company were exchanged, compared to its average volume of 943,865. The stock has a 50-day moving average of $13.41 and a 200 day moving average of $12.95. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13. Nexa Resources has a 12 month low of $4.70 and a 12 month high of $16.89. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 0.15 and a beta of 0.94.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Nexa Resources from $7.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, July 24th. Citigroup lifted their target price on Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Nexa Resources in a research report on Monday, July 20th. Bank of America raised their price target on shares of Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, July 9th. Finally, Zacks Research downgraded shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $14.40.

Hedge Funds Weigh In On Nexa Resources

Several large investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in shares of Nexa Resources in the fourth quarter valued at approximately $394,000. Russell Investments Group Ltd. bought a new position in Nexa Resources in the fourth quarter valued at approximately $404,000. Squarepoint Ops LLC acquired a new stake in Nexa Resources during the 4th quarter worth $207,000. HRT Financial LP bought a new stake in shares of Nexa Resources during the 4th quarter valued at $509,000. Finally, LPL Financial LLC acquired a new position in Nexa Resources in the fourth quarter valued at about $1,651,000.

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.