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

Key Points

• Nexa Resources reported quarterly EPS of $0.87, exceeding analysts’ $0.61 consensus by $0.26. Revenue totaled $937.13 million, below the $952.11 million estimate.
• Nexa shares rose 1.6% to $12.01 during Thursday trading. The company reported an 8.02% net margin and 20.25% return on equity.
• Analysts’ consensus rating remains “Hold,” with an average price target of $14.94, although price targets were raised by several brokerages and Zacks upgraded the stock to “strong buy.”

Nexa Resources (NYSE:NEXA - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.26, FiscalAI reports. The firm had revenue of $937.13 million for the quarter, compared to analyst estimates of $952.11 million. Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%.

Nexa Resources Trading Up 1.6%

Shares of NYSE NEXA traded up $0.19 during mid-day trading on Thursday, hitting $12.01. The company's stock had a trading volume of 596,587 shares, compared to its average volume of 579,781. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 6.29, a price-to-earnings-growth ratio of 0.13 and a beta of 0.94. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.80 and a quick ratio of 0.46. Nexa Resources has a one year low of $5.05 and a one year high of $16.89. The company's fifty day simple moving average is $12.95 and its 200-day simple moving average is $12.98.

Analysts Set New Price Targets

A number of brokerages have weighed in on NEXA. Bank of America boosted their target price on shares of Nexa Resources from $12.00 to $14.00 and gave the stock an "underperform" rating in a research note on Thursday, July 9th. Scotiabank increased their price target on shares of Nexa Resources from $14.00 to $15.00 and gave the company a "sector perform" rating in a research note on Friday, August 28th. JPMorgan Chase & Co. raised their price target 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. Weiss Ratings restated a "hold (c)" rating on shares of Nexa Resources in a research report on Friday, October 16th. Finally, Zacks Research upgraded shares of Nexa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $14.94.

About Nexa Resources

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.

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