Nexa Resources Stock Price, News & Analysis

Nexa Resources has reported Q1 2023 exploration results, revealing an expanded drilling program totaling 97,290 meters for the year, up from the previously planned 78,185 meters. This includes 36,340 meters in Brazil, 53,950 meters in Peru, and 7,000 meters in Namibia. In Q1, 19,434 meters were drilled across various sites. Key findings include high-grade mineralization at the Babaçú and Ambrex ore bodies, with impressive results such as 25.1 meters grading 4.83% Zn and 18.84% Zn in various holes. Activities in Brazil and Peru showed significant mineral continuity and high-grade intersections. No drilling occurred in Namibia during this quarter, but operations are expected to resume in Q2 2023.

Nexa Resources has announced the resumption of operations at its Cerro Lindo mine following the restoration of road access. The plant is currently operating at a production rate of 17ktpd, while underground mine dewatering is on track to be completed within 15 days. The mine produces around 233t of zinc per day, with an expectation to recover production losses from Q1 2023 in the coming quarters. The company's 2023 production guidance remains unchanged. Nexa is a leading integrated zinc producer in Latin America, with over 60 years of experience.

Nexa Resources has filed its annual report on Form 20-F for the fiscal year ended December 31, 2022, with the U.S. SEC and on SEDAR in Canada. Shareholders can request a hard copy of the audited financial statements at no cost. Additionally, Nexa has published an updated report on Mineral Reserves and Resources estimates as of December 31, 2022, prepared in accordance with NI 43-101. The company operates five underground mines in Peru and Brazil and is ramping up its sixth mine in Mato Grosso. Nexa ranked among the top five global producers of mined zinc in 2022, according to Wood Mackenzie.

Nexa Resources has announced its 2022 Year-End Mineral Reserves and Mineral Resources related to its operations in Peru and Brazil. As of December 31, 2022, the Company reported Proven and Probable Mineral Reserves of 100.6 million tonnes containing 3,540 kt of zinc, up from 97.1 million tonnes containing 3,359 kt of zinc in 2021. Significant contributions came from the Aripuanã project, which saw a 38% increase in reserves due to drilling efforts. However, there were decreases in Cerro Lindo, Vazante, and El Porvenir due to mining depletion. The Company plans to continue its exploration focus in 2023 with a total of 78,185 meters of drilling planned.

Nexa Resources S.A. (NYSE:NEXA) has announced a suspension of operations at its Cerro Lindo mine due to severe flooding caused by heavy rainfall from Cyclone Yaku. The underground mine is partially flooded, impacting lower levels and road access, though production has not yet been affected for the month. Daily zinc production averages 233 tons. Nexa anticipates resuming operations in 10 to 12 days, depending on dewatering efforts and further rainfall. The potential impact on 2023 guidance is being evaluated. Nexa emphasizes its commitment to employee safety and will update the market as necessary.

Nexa Resources (NYSE: NEXA) reported significant increases in its Aripuaná mine's Mineral Reserves and Resources as of December 31, 2022. Mineral Reserves rose to 30.12Mt from 21.79Mt in 2021, due primarily to an extensive drilling program, enhancing the mine life by about three years. The Proven and Probable Mineral Reserves contain 1,029.3Kt Zn, 377.7Kt Pb, and substantial Ag and Au quantities. In 2023, Nexa aims to expand drilling to further increase resources, particularly in the Babaçu deposit. The company's successful strategies underline its position as a major player in zinc production.

Nexa Resources S.A. reported its financial and operational results for Q4 and full year 2022, achieving strong metal production and sales despite rising costs and commodity price volatility due to the Russia-Ukraine conflict. Net revenues for Q4 reached $780 million, up from $678 million YoY, while full-year revenues hit $3,034 million, reflecting a 16% increase. Adjusted EBITDA for Q4 was $120 million, down from $153 million YoY. The company continues to progress with its Aripuanã project, indicating a potential 35% increase in mineral reserves. For 2023, Nexa anticipates elevated cash costs and is focused on disciplined capital allocation amidst economic uncertainties.

Nexa Resources announced a Special Cash Dividend of approximately US$25 million, translating to US$0.188766 per common share, for shareholders as of March 10, 2023. The dividend will be paid on March 24, 2023, and will be exempt from tax. This decision is pending ratification by shareholders at the upcoming annual meeting expected in June 2024. Nexa, noted as one of the top five global producers of mined zinc, operates multiple long-life underground mines and smelting facilities across Latin America.