Nexa Resources (NYSE:NEXA) Releases Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Nexa Resources (NYSE:NEXA) released its quarterly earnings results on Thursday. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.26, FiscalAI reports. The company had revenue of $937.13 million for the quarter, compared to analyst estimates of $952.11 million. Nexa Resources had a return on equity of 20.25% and a net margin of 8.02%.

Nexa Resources Price Performance

Shares of NEXA stock traded down $0.76 during mid-day trading on Friday, hitting $11.24. 337,653 shares of the stock were exchanged, compared to its average volume of 873,206. The firm has a fifty day moving average of $12.95 and a 200 day moving average of $12.98. The company has a quick ratio of 0.46, a current ratio of 0.80 and a debt-to-equity ratio of 1.08. Nexa Resources has a 52-week low of $5.05 and a 52-week high of $16.89. The company has a market cap of $1.49 billion, a PE ratio of 5.42, a price-to-earnings-growth ratio of 0.13 and a beta of 0.94.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Scotiabank increased their price target on Nexa Resources from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Friday, August 28th. Wall Street Zen downgraded Nexa Resources from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. upped their price objective on shares of Nexa Resources from $7.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, July 24th. Zacks Research raised Nexa Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Finally, Morgan Stanley raised Nexa Resources from an “equal weight” rating to an “overweight” rating and set a $14.20 price target for the company in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.94.

Nexa Resources Company Profile

Nexa Resources SA (NYSE:NEXA) is a global mining and metals company focused primarily on the production of zinc, lead, copper and silver. The company also produces related byproducts and refined materials, including sulfuric acid and various metal alloys, which serve customers in industrial, infrastructure, construction and manufacturing markets.

Nexa operates an integrated platform that includes underground and open-pit mines, mineral-processing facilities and zinc smelters. Its principal mining and metallurgical operations are located in Brazil and Peru, with the Cajamarquilla zinc refinery in Peru and additional mining and smelting assets in Brazil.