Nexa Resources (NYSE:NEXA) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Nexa Resources (NYSE:NEXA) released its earnings results on Thursday. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.45 by $0.15, FiscalAI reports. The company had revenue of $903.00 million for 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 Stock Down 1.3%

NYSE NEXA opened at $12.00 on Friday. Nexa Resources has a 1 year low of $4.44 and a 1 year high of $14.94. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60. The business’s 50-day moving average is $11.25 and its 200 day moving average is $7.62.

Institutional Investors Weigh In On Nexa Resources

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 shares of Nexa Resources during the fourth quarter valued at approximately $36,000. New York State Common Retirement Fund purchased a new position in Nexa Resources during the 4th quarter valued at $83,000. Susquehanna Portfolio Strategies LLC purchased a new position in Nexa Resources during the 4th quarter valued at $88,000. Susquehanna International Group LLP bought a new position in Nexa Resources in the 3rd quarter worth $134,000. Finally, Engineers Gate Manager LP raised its holdings in Nexa Resources by 69.7% in the 4th 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 in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NEXA. Scotiabank reaffirmed a “sector perform” rating on shares of Nexa Resources in a research note on Monday, January 26th. Morgan Stanley set a $7.70 target price on Nexa Resources and gave the company an “underweight” rating in a report on Monday, December 15th. Zacks Research upgraded Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Citigroup raised their price target on Nexa Resources from $5.50 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Wall Street Zen cut Nexa Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.81.

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.