Nexa Resources (NYSE:NEXA) Announces Earnings Results

Nexa Resources (NYSE:NEXA) released its earnings results on Thursday. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15, FiscalAI reports. The business had revenue of $903.00 million during the quarter, compared to the consensus estimate of $823.27 million. Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%.

Nexa Resources Price Performance

NEXA stock opened at $12.00 on Friday. The company’s 50 day moving average is $11.25 and its 200 day moving average is $7.62. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.60 and a current ratio of 0.91. Nexa Resources has a 1-year low of $4.44 and a 1-year high of $14.94.

Hedge Funds Weigh In On Nexa Resources

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NEXA shares. Morgan Stanley set a $7.70 price objective on Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday, December 29th. Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. Wall Street Zen lowered shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Scotiabank restated a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Nexa Resources currently has an average rating of “Hold” and a consensus price target of $7.81.

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.