Nexa Resources S.A. (NEXA) said after close Thursday that it lost $0.37 per share in quarter three 2022. 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 $703 million, beating estimates by $45.6 million.
In the same quarter a year ago, the company lost $0.14 per share on revenue of $655 million.
The stock is down 13.70% to $5.04 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.
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 48. 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 13.70% To $5.04 After Earnings Miss
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