Nexa Resources (NYSE:NEXA) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Nexa Resources (NYSE:NEXA) posted its quarterly earnings data on Thursday. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03), Zacks reports. The company had revenue of $736.31 million during the quarter, compared to analyst estimates of $674.20 million. Nexa Resources had a negative return on equity of 4.00% and a negative net margin of 10.30%. During the same period in the previous year, the company earned $0.04 EPS.

Nexa Resources Stock Performance

NYSE NEXA traded down $0.17 on Friday, hitting $7.09. 54,998 shares of the company were exchanged, compared to its average volume of 25,169. The company’s 50 day moving average price is $7.62 and its 200-day moving average price is $7.32. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.98 and a quick ratio of 0.63. Nexa Resources has a twelve month low of $4.82 and a twelve month high of $8.09.

Analyst Ratings Changes

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