Nexa Resources (NEXA) Soars 5.1%: Is Further Upside Left in the Stock?

Core Viewpoint - Nexa Resources S.A. (NEXA) shares have experienced a significant rally, attributed to rising metal prices and strong trading volume, indicating potential investor interest and market momentum [1][2]. Group 1: Stock Performance - Nexa Resources shares increased by 5.1% to close at $5.37, with a notable trading volume exceeding typical levels [1]. - Over the past four weeks, the stock has gained 6.5% [1]. Group 2: Metal Prices Impact - Zinc prices have surged above $3,000 per ton due to supply concerns, contrasting with year-to-date losses [2]. - Copper prices are currently above $5 per pound, influenced by mine disruptions in Chile and Indonesia [2]. - Silver is trading around $49 per ounce, supported by political and economic uncertainties and expectations of U.S. rate cuts [2]. Group 3: Earnings Expectations - Nexa Resources is expected to report quarterly earnings of $0.10 per share, reflecting a year-over-year increase of 400% [3]. - Revenue projections stand at $699.31 million, a decrease of 1.4% from the same quarter last year [3]. - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in earnings expectations [4]. Group 4: Industry Context - Nexa Resources holds a Zacks Rank of 3 (Hold), indicating a neutral outlook [5]. - The company is part of the Zacks Mining - Miscellaneous industry, which includes other stocks like McEwen (MUX), that has shown a significant increase of 30.6% over the past month [5]. - McEwen's EPS estimate has changed by +95.2% over the past month, indicating strong growth potential within the industry [6].