Nexa Resources (NYSE:NEXA) Issues Quarterly Earnings Results, Hits Estimates

Nexa Resources (NYSE:NEXA) released its earnings results on Wednesday. The company reported $0.67 earnings per share for the quarter, hitting 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 Trading Up 4.5%

NEXA traded up $0.72 during trading on Wednesday, hitting $16.71. 1,278,092 shares of the company’s stock were exchanged, compared to its average volume of 991,260. Nexa Resources has a 1 year low of $4.44 and a 1 year high of $16.89. The stock has a 50 day moving average price of $12.17 and a 200 day moving average price of $9.98. The firm 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 company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 1.28.

Nexa Resources Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, July 28th will be given a dividend of $0.1321 per share. The ex-dividend date of this dividend is Tuesday, July 28th. Nexa Resources’s payout ratio is 10.00%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a research note on Wednesday, April 22nd. Zacks Research downgraded shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Citigroup upped their price target on shares of Nexa Resources from $11.00 to $12.50 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating in a research note on Thursday, April 9th. Finally, Wall Street Zen upgraded shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 1st. Seven research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.74.

Hedge Funds Weigh In On Nexa Resources

Several hedge funds and other institutional investors have recently made changes to their positions in NEXA. Hsbc Holdings PLC boosted its position in Nexa Resources by 47.0% during the 4th quarter. Hsbc Holdings PLC now owns 16,454 shares of the company’s stock worth $145,000 after purchasing an additional 5,263 shares during the period. XTX Topco Ltd purchased a new position in Nexa Resources in the fourth quarter valued at about $645,000. Susquehanna Portfolio Strategies LLC acquired a new stake in Nexa Resources in the fourth quarter valued at approximately $88,000. Quadrature Capital Ltd acquired a new position in shares of Nexa Resources during the fourth quarter worth $394,000. Finally, Millennium Management LLC boosted its stake in shares of 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 period.

About Nexa Resources

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.