Nexa Resources (NYSE:NEXA) Releases Quarterly Earnings Results

Nexa Resources (NYSE:NEXA) announced its earnings results on Thursday. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03), Zacks reports. Nexa Resources had a negative net margin of 10.30% and a negative return on equity of 4.00%. The business had revenue of $736.31 million for the quarter, compared to analysts’ expectations of $674.20 million. During the same quarter last year, the firm earned $0.04 EPS.

Nexa Resources Stock Performance

Shares of NEXA stock traded down $0.17 during trading hours on Friday, reaching $7.09. 54,998 shares of the company’s stock were exchanged, compared to its average volume of 25,169. The stock’s 50 day moving average is $7.62 and its 200-day moving average is $7.32. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.63 and a current ratio of 0.98. Nexa Resources has a fifty-two week low of $4.82 and a fifty-two week high of $8.09.

Analyst Ratings Changes

NEXA has been the subject of several recent analyst reports. Scotiabank boosted their target price on Nexa Resources from $6.00 to $7.00 and gave the company a “sector underperform” rating in a research report on Thursday, May 30th. Bank of America lifted their price target on shares of Nexa Resources from $7.50 to $8.00 and gave the company an “underperform” rating in a research note on Wednesday, June 26th. BMO Capital Markets lifted their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, Morgan Stanley lifted their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the company an “underweight” rating in a research note on Friday, June 21st. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.25.

About Nexa Resources

Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business worldwide. The company operates in two segments, Mining and Smelting. It produces zinc, zamac, zinc oxide, and zincal, as well as by-products, such as copper, lead, silver, gold, copper sulfate, sulfuric acid, copper cementum, silver concentrate, slag aggregates, and cadmium/sponge deposits.