Nexa Resources S.A. (NEXA) said after close Monday that it lost $0.43 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $649 million, beating estimates by $86.6 million.
In the same quarter a year ago, the company lost $0.24 per share on revenue of $703 million.
The stock is down 10.53% to $4.93 after the report.
Despite Nexa Resources S.A. reporting a decline in revenues, earnings increased signaling a rise in profit margins.
Wall Street Analysts had an average rating of Hold on the stock prior to the report.
InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 60. Meanwhile, the average Wall Street analyst rated the stock a Hold.
Nexa Resources SA is a low-cost integrated zinc producer. It produces copper, lead, silver, and gold as byproducts. The company operates through two segments namely Mining and Smelting. Its Mining segment consists of various operating units includes mineral exploration activities and the production of zinc concentrates, copper concentrates and lead concentrates. The Smelting segment comprises operating units which include facilities recovering and refining zinc metal out of feed materials such as zinc concentrates or secondary feed materials. It generates maximum revenue from the Smelting segment. Geographically It has a presence in Brazil, Peru, the United States of America, Switzerland, Japan, Argentina, South Korea, Colombia, and other countries.
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Nexa Resources S.A. Down 10.53% To $4.93 After Earnings Miss
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