Nexa Resources (NYSE:NEXA) Releases Quarterly Earnings Results, Meets Expectations

Key Points

• Nexa Resources reported EPS of $0.67, meeting consensus, with a return on equity of 11.81% and a net margin of 4.42%.
• The company announced a special dividend of $0.1321 payable Aug. 11 to shareholders of record on July 28 (ex-dividend July 28), with a stated payout ratio of 10%.
• Shares jumped to $16.71 on above-average volume; the company has a market cap of $2.21B and a P/E of 16.71, while analysts' consensus is an average "Hold" rating with an average price target of $9.74.

Nexa Resources (NYSE:NEXA - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67, FiscalAI reports. Nexa Resources had a return on equity of 11.81% and a net margin of 4.42%.

Nexa Resources Price Performance

NEXA traded up $0.72 during midday trading on Wednesday, hitting $16.71. The stock had a trading volume of 1,259,630 shares, compared to its average volume of 991,089. The company has a market cap of $2.21 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 0.27 and a beta of 0.90. The business has a fifty day moving average of $12.17 and a 200 day moving average of $9.98. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.58 and a current ratio of 0.87. Nexa Resources has a 1 year low of $4.44 and a 1 year high of $16.89.

Nexa Resources Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, July 28th will be paid a $0.1321 dividend. The ex-dividend date of this dividend is Tuesday, July 28th. Nexa Resources's dividend payout ratio is currently 10.00%.

Institutional Trading of Nexa Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC purchased a new stake in Nexa Resources in the fourth quarter worth approximately $4,628,000. Dimensional Fund Advisors LP boosted its stake in Nexa Resources by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company's stock worth $3,654,000 after buying an additional 26,829 shares in the last quarter. Jane Street Group LLC bought a new stake in Nexa Resources in the fourth quarter valued at approximately $2,404,000. Millennium Management LLC lifted its position in Nexa Resources by 249.4% in the fourth quarter. Millennium Management LLC now owns 255,757 shares of the company's stock valued at $2,263,000 after purchasing an additional 182,567 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in Nexa Resources in the fourth quarter valued at approximately $1,984,000.

Analysts Set New Price Targets

Several research analysts have recently commented on NEXA shares. Weiss Ratings reissued a "hold (c)" rating on shares of Nexa Resources in a report on Wednesday, April 22nd. Zacks Research lowered Nexa Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Wall Street Zen raised Nexa Resources from a "buy" rating to a "strong-buy" rating in a report on Sunday, March 1st. Scotiabank cut their price objective on Nexa Resources to $14.00 and set a "sector perform" rating for the company in a report on Monday, March 23rd. Finally, Citigroup boosted their price objective on Nexa Resources from $11.00 to $12.50 and gave the stock a "neutral" rating in a report on Tuesday, April 14th. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat, Nexa Resources has an average rating of "Hold" and an average price target of $9.74.

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.

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