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

Nexa Resources (NYSE:NEXA) 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. The firm had revenue of $907.90 million for the quarter, compared to analysts’ expectations of $906.52 million. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%.

Nexa Resources Stock Performance

NEXA traded up $0.56 on Wednesday, hitting $14.06. The company had a trading volume of 987,372 shares, compared to its average volume of 947,192. The stock 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 company has a debt-to-equity ratio of 1.13, a current ratio of 0.85 and a quick ratio of 0.54. The company’s fifty day moving average price is $13.43 and its 200 day moving average price is $12.91. Nexa Resources has a 1-year low of $4.70 and a 1-year high of $16.89.

Analyst Ratings Changes

Several brokerages have weighed in on NEXA. Zacks Research lowered Nexa Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. lifted their price target on Nexa Resources from $7.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, July 24th. Bank of America boosted their price target on Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Citigroup increased their price objective on Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Finally, Scotiabank raised their price objective on shares of Nexa Resources from $14.50 to $15.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nexa Resources currently has an average rating of “Reduce” and an average target price of $14.60.

Hedge Funds Weigh In On Nexa Resources

A number of institutional investors have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Nexa Resources in the fourth quarter worth $36,000. New York State Common Retirement Fund acquired a new position in Nexa Resources in the 4th quarter valued at $83,000. Susquehanna Portfolio Strategies LLC bought a new position in Nexa Resources in the 4th quarter worth $88,000. Susquehanna International Group LLP acquired a new position in Nexa Resources during the 3rd quarter worth $134,000. Finally, Hsbc Holdings PLC lifted 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 acquiring an additional 5,263 shares during the last quarter.

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.