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

Key Points

• Nexa Resources reported $0.64 in quarterly EPS, missing the $0.71 consensus estimate by $0.07, while revenue of $907.9 million slightly exceeded analyst expectations of $906.5 million.
• Shares rose 4.1% to $14.06 following the results. The stock has a market capitalization of approximately $1.86 billion and trades near its 52-week high of $16.89.
• Analyst sentiment remains cautious, with six “Hold” ratings and one “Sell” rating producing an average “Reduce” consensus and a $14.60 target price.

Nexa Resources (NYSE:NEXA - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.07), FiscalAI reports. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%.The business had revenue of $907.90 million during the quarter, compared to analyst estimates of $906.52 million.

Nexa Resources Stock Up 4.1%

Shares of NEXA traded up $0.56 during mid-day trading on Wednesday, reaching $14.06. The company's stock had a trading volume of 987,372 shares, compared to its average volume of 947,192. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 0.14 and a beta of 0.94. The business has a fifty day moving average of $13.43 and a 200 day moving average of $12.91. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 1.13. Nexa Resources has a 1 year low of $4.70 and a 1 year high of $16.89.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NEXA shares. Scotiabank lifted their price target on shares of Nexa Resources from $14.50 to $15.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nexa Resources in a research report on Monday, July 20th. Bank of America raised their price objective on Nexa Resources from $12.00 to $14.00 and gave the stock an "underperform" rating in a research note on Thursday, July 9th. Wall Street Zen cut Nexa Resources from a "strong-buy" rating to a "buy" rating in a report on Tuesday, July 28th. Finally, Zacks Research lowered Nexa Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 8th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $14.60.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in Nexa Resources by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company's stock worth $3,654,000 after acquiring an additional 26,829 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Nexa Resources by 142.4% during the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company's stock worth $301,000 after purchasing an additional 35,411 shares during the period. Millennium Management LLC grew its position in Nexa Resources by 124.1% during the third quarter. Millennium Management LLC now owns 73,190 shares of the company's stock valued at $365,000 after purchasing an additional 40,535 shares in the last quarter. Susquehanna International Group LLP purchased a new position in Nexa Resources during the third quarter valued at approximately $134,000. Finally, Goldman Sachs Group Inc. acquired a new position in Nexa Resources in the 4th quarter valued at approximately $1,984,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source