Nexa Resources (NYSE:NEXA) Issues Quarterly Earnings Results

Nexa Resources (NYSE:NEXA) issued its quarterly earnings results on Thursday. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.25, FiscalAI reports. The company had revenue of $903.00 million during the quarter, compared to analyst estimates of $823.27 million. Nexa Resources had a negative net margin of 0.57% and a negative return on equity of 8.80%.

Nexa Resources Trading Down 1.3%

NEXA traded down $0.16 during trading on Thursday, hitting $12.00. The company’s stock had a trading volume of 879,629 shares, compared to its average volume of 804,898. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37. Nexa Resources has a one year low of $4.44 and a one year high of $14.94. The business’s 50 day simple moving average is $11.17 and its 200-day simple moving average is $7.59.

Hedge Funds Weigh In On Nexa Resources

Several large investors have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey purchased a new position in Nexa Resources in the 4th quarter worth approximately $36,000. New York State Common Retirement Fund purchased a new stake in shares of Nexa Resources during the 4th quarter worth approximately $83,000. Susquehanna Portfolio Strategies LLC purchased a new position in shares of Nexa Resources in the fourth quarter valued at $88,000. Engineers Gate Manager LP increased its position in Nexa Resources by 69.7% in the fourth quarter. Engineers Gate Manager LP now owns 17,546 shares of the company’s stock worth $155,000 after purchasing an additional 7,206 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Nexa Resources during the fourth quarter valued at $207,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Zacks Research upgraded Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Scotiabank reissued a “sector perform” rating on shares of Nexa Resources in a research note on Monday, January 26th. Morgan Stanley set a $7.70 price target on Nexa Resources and gave the stock an “underweight” rating in a research report on Monday, December 15th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.81.

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.