Nexa Resources S.A. (NEXA) Gains As Market Dips: What You Should Know
Nexa Resources S.A. (NEXA) closed at $6.74 in the latest trading session, marking a +0.45% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.88%. At the same time, the Dow lost 0.73%, and the tech-heavy Nasdaq lost 4.59%.
Coming into today, shares of the company had lost 6.42% in the past month. In that same time, the Basic Materials sector gained 3.36%, while the S&P 500 gained 5.83%.
Wall Street will be looking for positivity from Nexa Resources S.A. as it approaches its next earnings report date. On that day, Nexa Resources S.A. is projected to report earnings of -$0.11 per share, which would represent a year-over-year decline of 1200%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $611.51 million, down 9.79% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Nexa Resources S.A.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.3% lower. Nexa Resources S.A. is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Nexa Resources S.A. is currently trading at a Forward P/E ratio of 5.02. This represents a discount compared to its industry's average Forward P/E of 10.43.
We can also see that NEXA currently has a PEG ratio of 2.06. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Miscellaneous was holding an average PEG ratio of 1.97 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nexa Resources S.A. (NEXA) : Free Stock Analysis Report
