Brokerages forecast that Nexa Resources SA (NYSE:NEXA) will announce earnings per share (EPS) of ($0.17) for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Nexa Resources’ earnings. Nexa Resources posted earnings of $0.72 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 123.6%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, October 31st.
According to Zacks, analysts expect that Nexa Resources will report full year earnings of $0.56 per share for the current year, with EPS estimates ranging from $0.27 to $1.11. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.90 per share, with EPS estimates ranging from ($0.20) to $2.04. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Nexa Resources.
Nexa Resources (NYSE:NEXA) last released its earnings results on Tuesday, July 31st. The company reported ($0.30) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.17. The firm had revenue of $636.52 million for the quarter. Nexa Resources had a net margin of 4.47% and a return on equity of 4.21%.
A number of research analysts have weighed in on NEXA shares. Bank of America cut shares of Nexa Resources from a “buy” rating to an “underperform” rating in a research note on Thursday, August 2nd. Zacks Investment Research upgraded shares of Nexa Resources from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. ValuEngine cut shares of Nexa Resources from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Finally, Credit Suisse Group started coverage on shares of Nexa Resources in a research note on Thursday. They issued a “buy” rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $20.44.
NEXA traded down $0.29 during midday trading on Friday, reaching $11.71. The company had a trading volume of 30,093 shares, compared to its average volume of 71,525. The company has a quick ratio of 2.04, a current ratio of 2.47 and a debt-to-equity ratio of 0.49. The stock has a market cap of $1.60 billion and a price-to-earnings ratio of 8.25. Nexa Resources has a 12-month low of $10.52 and a 12-month high of $21.61.
Several hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in shares of Nexa Resources by 3,982.4% during the 2nd quarter. Bank of America Corp DE now owns 10,206 shares of the company’s stock worth $120,000 after purchasing an additional 9,956 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Nexa Resources in the second quarter worth approximately $170,000. Dynamic Technology Lab Private Ltd bought a new stake in Nexa Resources during the first quarter valued at approximately $259,000. California Public Employees Retirement System bought a new stake in Nexa Resources during the first quarter valued at approximately $264,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Nexa Resources during the first quarter valued at approximately $295,000. Institutional investors own 11.53% of the company’s stock.
About Nexa Resources
Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business in Latin America. It also produces copper, lead, silver and gold deposits. The company owns and operates five mines, including three located in the Central Andes of Peru; and two located in the state of Minas Gerais in Brazil.
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