Nexa Resources S.A. (NEXA) to Issue Special Dividend of $0.13 on August 11th

Nexa Resources S.A. (NYSE:NEXA) declared a special dividend on Wednesday, March 4th. Investors of record on Tuesday, July 28th will be given a dividend of 0.1321 per share on Tuesday, August 11th. The ex-dividend date of this dividend is Tuesday, July 28th.

Nexa Resources has decreased its dividend by an average of 0.2%annually over the last three years. Nexa Resources has a dividend payout ratio of 14.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Nexa Resources to earn $0.87 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 11.5%.

Nexa Resources Trading Down 9.3%

Shares of NYSE NEXA opened at $11.33 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.58 and a current ratio of 0.87. The stock’s 50 day moving average price is $11.67 and its two-hundred day moving average price is $7.90. Nexa Resources has a 52-week low of $4.44 and a 52-week high of $14.94.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.15. The business had revenue of $903.00 million for the quarter, compared to analyst estimates of $823.27 million. Nexa Resources had a return on equity of 11.81% and a net margin of 4.42%. As a group, equities research analysts predict that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NEXA shares. Wall Street Zen upgraded shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 1st. JPMorgan Chase & Co. increased their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Citigroup raised their target price 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 shares of Nexa Resources and gave the company an “underweight” rating in a research report on Monday, December 15th. 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 assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.81.

Nexa Resources Company Profile

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.