Nexa Resources Stock Price, News & Analysis

Nexa Resources has resumed operations at its Atacocha San Gerardo open pit mine in Peru, following the end of protests by the Machcan community. Full operational capacity is expected within two days, with an estimated zinc production loss of 0.3kt anticipated to be recovered in the upcoming months. The company's 2022 production guidance remains unchanged. Nexa emphasizes its commitment to social development and ongoing dialogue with local communities.

Nexa Resources announced its 2021 Year-End Mineral Reserves and Resources, showing a decrease in Proven and Probable Mineral Reserves from 106.1 million tonnes in 2020 to 97.0 million tonnes in 2021, primarily due to mining production depletion. The total for zinc equivalent also dropped from 5,584kt to 5,146kt. Despite limited exploration due to COVID-19 protocols, positive results from targeted drilling at El Porvenir may extend mine life in the medium-term. The company plans to continue its exploration strategy, focusing on brownfield and greenfield projects in 2022.

Nexa Resources has reported a temporary suspension of production at the Atacocha San Gerardo open pit mine due to illegal roadblocks from the Machcan community. Although mine production is currently affected, the company states there has not been a significant impact on overall production, as Atacocha contributes approximately 0.2kt of zinc weekly, which is less than 3% of its total output. Nexa remains focused on community engagement and dialogue to resolve the issue, with 2022 production guidance remaining unchanged.

Nexa Resources has filed its annual report on Form 20-F for the fiscal year ended December 31, 2021, with the U.S. SEC and on SEDAR in Canada. Shareholders can receive the complete audited financial statements upon request. Additionally, Nexa submitted an updated report on Mineral Reserves and Resources estimates as of December 31, 2021. The company, a leading integrated zinc producer, operates five mines in South America and is developing a sixth project. Nexa's mining report aligns with Canadian National Instrument 43-101 standards.

Nexa Resources has announced the early redemption of all outstanding 4.625% Senior Notes due March 28, 2022, with a total principal amount of US$ 128,470,000. The redemption price will be the greater of the principal amount or the discounted value of future payments, plus accrued interest. The company operates in mining and smelting, primarily producing zinc, with assets across Latin America. Nexa is one of the top five global zinc producers as of 2021. This decision is part of Nexa's strategy to manage its debt effectively.

Nexa Resources reported its financial results for Q4 and the full year 2021, achieving record-high adjusted EBITDA of US$704 million.

Fourth-quarter net revenue reached US$678 million, marking a 6.8% increase from the previous year. Zinc production was 81kt, a 12% decrease year-over-year. Full-year net revenue was US$2,622 million, a 34.4% increase from 2020.

Net income for Q4 was US$11 million, with earnings per share at US$0.01. The company expects a 5% decrease in zinc production for 2022 due to lower grades and production capacity reductions.

Nexa Resources has approved a US$50 million distribution, with US$44 million designated as a cash dividend of US$0.331275 per share and US$6 million as a special cash dividend of US$0.046258 per share for shareholders of record by March 11, 2022. Payments are scheduled for March 25, 2022. A 15% Luxembourg withholding tax applies to the cash dividend, but refunds may be possible. Nexa is a leading zinc producer operating in Latin America with significant mining and smelting assets.

Nexa Resources announced its 2021 exploration results, reporting 110,306 meters of exploratory drilling, achieving 99% of its planned operations. Key highlights include significant findings from the Cerro Lindo and Pasco Complex, with high-grade mineralization confirmed at several targets. Notable intersections include 8.7 meters with 4.67% ZnEq and various significant values from the El Porvenir area. The company aims for continuous expansion in resources, particularly at Hilarión and Aripuaná, targeting growth in 2022.

Nexa Resources reported operational results for the year ended December 31, 2021, achieving its annual production guidance for all metals. Zinc output totaled 320kt, a 2% increase from 2020, while lead and silver rose by 20% and 29%, respectively. The company noted cash costs below guidance, with mining costs at US$0.21/lb. However, Q4 zinc production saw a 12% year-over-year decline. Nexa is set to reveal detailed financials and production guidance for 2022-2024 on February 15, 2022.