Nexa Resources Stock Price, News & Analysis

Nexa Resources (NYSE: NEXA) has reaffirmed its 2024 guidance for total zinc and lead production in its mining segment. The company has also announced updates to production guidance for specific mines while lowering its mining cash cost and capital expenditures guidance for 2024. This update suggests potential operational cost improvements while maintaining production targets.

Nexa Resources has released its exploration drilling and assay results for the third quarter of 2024. The press release appears to be incomplete as it only contains the announcement of the results without providing specific details about the drilling outcomes, locations, or any quantitative data from the exploration activities.

Nexa Resources (NYSE: NEXA) has announced changes to its Board of Directors and senior leadership team. João Schmidt has stepped down from the Board, effective October 1, 2024. Flavio Aidar has been appointed to the Board, bringing over 7 years of experience in industrial, infrastructure, and mining sectors. Aidar is currently a Managing Director of Votorantim S.A. and has held various leadership positions, including CEO of InterCement and board roles in multiple companies.

Additionally, Marcio Godoy, Senior Vice President of Technical Services and Projects, will step down effective October 15, 2024. His responsibilities will be distributed across other management functions. The Chairman of the Board, Jaime Ardila, expressed gratitude to the departing members and welcomed Aidar, highlighting his potential contribution to exploring new growth avenues and maximizing shareholder value.

Nexa Resources reported strong financial results for 2Q24, with Adjusted EBITDA reaching US$ 200 million, up 64% quarter-over-quarter and 180% year-over-year. Net revenues increased to US$ 736 million, driven by higher LME metal prices and increased sales volumes. The company achieved free cash flow of US$ 149 million, partly due to the issuance of an ESG-Linked debenture. Operationally, zinc production totaled 83,000 tons, up 2% year-over-year, while copper production reached 10,000 tons, up 13% from 2Q23. Nexa continues to focus on operational efficiency, portfolio optimization, and ESG initiatives, including safety improvements and community support programs.

Nexa Resources has released its exploration results for the second quarter of 2024. The company, which focuses on zinc mining and production, has been conducting drilling activities across its various projects. While specific details are not provided in this summary, the release of exploration results is typically a significant event for mining companies as it can indicate the potential for future resource expansion and production growth.

Investors and analysts often closely scrutinize these results to assess the company's prospects for mineral reserves and future production capacity. The exploration activities are important for Nexa's long-term strategy in maintaining and potentially increasing its position in the zinc market. The full report likely contains detailed information on drill hole locations, mineral grades, and potential resource estimates, which are essential for evaluating the company's exploration success and future mining potential.

Nexa Resources has announced the completion of the sale of its Morro Agudo Complex in Minas Gerais, Brazil, to Casa Verde Holding. This transaction was initially announced on April 5, 2024. With this completion, Nexa has transferred all rights, titles, and interests in the Morro Agudo Complex to Casa Verde. The closing conditions for the transaction have been fulfilled, marking the finalization of this significant divestment for Nexa.

Nexa Resources S.A. (NYSE:NEXA) held its Annual General Meeting (AGM) on June 13, 2024, with 77.65% of outstanding shares voted. All proposed resolutions were approved, including the election of board members Jaime Ardila, Gianfranco Castagnola, Daniella Elena Dimitrov, Luis Ermírio de Moraes, Hilmar Rode, Edward Ruiz, Jane Sadowsky, João Henrique Batista de Souza Schmidt, and new member Paulo Macedo. PricewaterhouseCoopers LLP was appointed as the statutory auditor with 91.45% approval. The 2023 annual accounts and consolidated financial statements were also approved. Two board members, Diego Hernandez and Eduardo Borges de Andrade Filho, ended their terms.

Nexa Resources S.A. reports Q1 2024 results with a net loss of US$11 million and adjusted EBITDA of US$123 million. Despite fatalities at mines, the company focuses on safety, operational progress, divestiture of Morro Agudo Complex, and maintaining production guidance. Zinc production and sales data, financial performance, ESG initiatives, and growth strategies are highlighted.