Nexa Resources (NYSE:NEXA) Releases Earnings Results, Misses Estimates By $0.07 EPS

Nexa Resources (NYSE:NEXA) issued its quarterly earnings results on Wednesday. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.07), FiscalAI reports. The company had revenue of $907.93 million for the quarter, compared to analyst estimates of $906.52 million. Nexa Resources had a return on equity of 20.93% and a net margin of 8.02%.

Nexa Resources Price Performance

NYSE NEXA traded down $0.11 during trading hours on Friday, reaching $14.19. The company’s stock had a trading volume of 173,646 shares, compared to its average volume of 943,438. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85. The company’s 50-day moving average is $13.41 and its two-hundred day moving average is $12.95. Nexa Resources has a fifty-two week low of $4.70 and a fifty-two week high of $16.89. The stock has a market cap of $1.88 billion, a PE ratio of 6.82, a PEG ratio of 0.15 and a beta of 0.94.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Nexa Resources from $7.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, July 24th. Bank of America lifted their price objective on Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a report on Thursday, July 9th. Citigroup increased their target price on Nexa Resources from $12.50 to $16.00 and gave the stock 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 report on Monday, July 20th. Finally, Zacks Research downgraded Nexa Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $14.60.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NEXA. Marshall Wace LLP acquired a new stake in Nexa Resources during the 4th quarter valued at $8,653,000. Walleye Capital LLC purchased a new stake in shares of Nexa Resources in the fourth quarter valued at $4,628,000. Renaissance Technologies LLC lifted its position in shares of Nexa Resources by 120.8% in the fourth quarter. Renaissance Technologies LLC now owns 852,800 shares of the company’s stock valued at $7,547,000 after acquiring an additional 466,500 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Nexa Resources during the fourth quarter valued at $2,404,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Nexa Resources during the fourth quarter valued at $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.