Nexa Resources (NYSE:NEXA) Issues Earnings Results, Beats Expectations By $0.05 EPS
Nexa Resources (NYSE:NEXA) announced its quarterly earnings results on Thursday. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05, MarketWatch Earnings reports. Nexa Resources had a negative return on equity of 0.12% and a negative net margin of 29.69%.
Shares of NEXA stock traded up $0.10 on Friday, hitting $6.29. 23,514 shares of the stock traded hands, compared to its average volume of 63,466. The company has a quick ratio of 1.38, a current ratio of 1.72 and a debt-to-equity ratio of 0.82. The firm has a 50 day simple moving average of $6.08 and a two-hundred day simple moving average of $5.72. Nexa Resources has a 52 week low of $2.57 and a 52 week high of $10.98.
NEXA has been the subject of several recent research reports. Zacks Investment Research lowered Nexa Resources from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. Citigroup raised their price objective on Nexa Resources from $4.50 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Credit Suisse Group lowered Nexa Resources from a “neutral” rating to an “underperform” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. lowered Nexa Resources from an “overweight” rating to a “neutral” rating and set a $6.50 price objective for the company. in a research report on Monday, June 22nd. Finally, BMO Capital Markets raised their price objective on Nexa Resources from $3.00 to $3.10 and gave the company an “underperform” rating in a research report on Tuesday, June 16th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $7.20.
Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business. 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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