-$0.17 EPS Expected for Nexa Resources SA (NEXA) This Quarter

Wall Street brokerages forecast that Nexa Resources SA (NYSE:NEXA) will report earnings per share of ($0.17) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Nexa Resources’ earnings. Nexa Resources posted earnings per share of $0.72 in the same quarter last year, which would indicate a negative year over year growth rate of 123.6%. The company is scheduled to report its next quarterly earnings report after the market closes on Friday, November 9th.

According to Zacks, analysts expect that Nexa Resources will report full-year earnings of $0.54 per share for the current financial year, with EPS estimates ranging from $0.20 to $1.11. For the next financial year, analysts forecast that the business will post earnings of $0.91 per share, with EPS estimates ranging from ($0.20) to $2.04. Zacks’ EPS calculations 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 Thomson Reuters’ consensus estimate of ($0.47) by $0.17. Nexa Resources had a return on equity of 4.21% and a net margin of 4.47%. The company had revenue of $636.52 million for the quarter.

NEXA has been the topic of several research analyst reports. Bank of America cut Nexa Resources from a “buy” rating to an “underperform” rating in a research note on Thursday, August 2nd. Zacks Investment Research raised Nexa Resources from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, ValuEngine cut Nexa Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $21.30.

NYSE:NEXA traded up $0.11 on Friday, hitting $12.21. 46,285 shares of the company’s stock traded hands, compared to its average volume of 220,159. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.47 and a quick ratio of 2.04. Nexa Resources has a 1 year low of $10.52 and a 1 year high of $21.61. The stock has a market cap of $1.61 billion and a PE ratio of 8.60.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can grew its stake in shares of Nexa Resources by 12.9% in the 3rd quarter. Bank of Montreal Can now owns 59,622 shares of the company’s stock valued at $719,000 after buying an additional 6,825 shares in the last quarter. Verde Servicos Internacionais S.A. grew its stake in shares of Nexa Resources by 21.8% in the 3rd quarter. Verde Servicos Internacionais S.A. now owns 174,831 shares of the company’s stock valued at $2,057,000 after buying an additional 31,321 shares in the last quarter. Bank of Nova Scotia bought a new stake in shares of Nexa Resources in the 2nd quarter valued at approximately $421,000. Jane Street Group LLC bought a new stake in shares of Nexa Resources in the 2nd quarter valued at approximately $170,000. Finally, California Public Employees Retirement System grew its stake in shares of Nexa Resources by 29.7% in the 2nd quarter. California Public Employees Retirement System now owns 19,561 shares of the company’s stock valued at $230,000 after buying an additional 4,476 shares in the last quarter. 11.50% of the stock is owned by institutional investors and hedge funds.

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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