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Nexa Resources S.A. (NEXA) Surges 7.4%: Is This an Indication of Further Gains?
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Nexa Resources S.A. (NEXA - Free Report) shares soared 7.4% in the last trading session to close at $8.32. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.1% loss over the past four weeks.
Nexa Resources was recently upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating.
Thecompany recentlyannounced that Ignacio Rosado will join the company as of Nov 1, 2021 and take over as CEO on Jan 1, 2022. Rosado has more than 16 years of experience in the metals and mining industry. Previously, he served as CEO of Peru-based Volcan, which is one of the largest producers worldwide of zinc, lead and silver.
This company is expected to post quarterly earnings of $0.49 per share in its upcoming report, which represents a year-over-year change of +390%. Revenues are expected to be $603.92 million, up 12.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Nexa Resources S.A., the consensus EPS estimate for the quarter has been revised 3.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on NEXA going forward to see if this recent jump can turn into more strength down the road.
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Nexa Resources S.A. (NEXA) Surges 7.4%: Is This an Indication of Further Gains?
Nexa Resources S.A. (NEXA - Free Report) shares soared 7.4% in the last trading session to close at $8.32. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.1% loss over the past four weeks.
Nexa Resources was recently upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating.
Thecompany recentlyannounced that Ignacio Rosado will join the company as of Nov 1, 2021 and take over as CEO on Jan 1, 2022. Rosado has more than 16 years of experience in the metals and mining industry. Previously, he served as CEO of Peru-based Volcan, which is one of the largest producers worldwide of zinc, lead and silver.
This company is expected to post quarterly earnings of $0.49 per share in its upcoming report, which represents a year-over-year change of +390%. Revenues are expected to be $603.92 million, up 12.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Nexa Resources S.A., the consensus EPS estimate for the quarter has been revised 3.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on NEXA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>