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Nexa Resources S.A.

NEXA
58
Industrial Materials · Basic Materials
Price
$12.19
-0.38 (-3.02%)
Market Cap
$1.61B
Exchange
New York Stock Exchange
Winston Score
58
Winston is curious
A decent business — some strong pillars, some weaker.

Nexa Resources is a mining company that digs zinc, lead, silver, and copper out of the ground. It sells these metals to manufacturers who use them to make things like galvanized steel, batteries, and electronics. Nexa is one of the largest zinc producers in Latin America and operates mines and smelters primarily in Peru and Brazil.

The company makes money by selling refined metals and concentrates to industrial buyers, so its revenue rises and falls with global commodity prices. Nexa runs an integrated business model — it both mines the ore and processes it into finished metal — which gives it more control over costs than pure miners. The main risk the company faces is that zinc prices are set by global markets, meaning a drop in demand from China or a surge in new supply can quickly squeeze profits regardless of how well Nexa manages its own operations.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+41.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+648.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

64.7%ownership

Insiders own a meaningful stake in the company

Cash Runway

~10 months

$422M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Nexa Resources S.A. grew revenue 42% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 132.4M (2021) → 132.4M (2025)

Score breakdown

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Quality

Gross Margin
30.6%
Modest — 30.6% gross margin
Operating Margin
24.5%
Excellent — 24.5% operating margin
ROCE
7.6%
Weak — 7.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY
+15.3%
Fast-growing sales (15.3% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion
259%
Turns 259% of profit into real cash
FCF Margin
4.7%
Thin free cash flow (4.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity
1.52
Elevated debt (1.52)
Interest Cover
2.01x
Tight — interest eats into profit (2.0x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)
7.7x
Attractive valuation — P/E 7.7

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward
+2.4
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend Yield
0.77%
Small dividend — 0.77% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth
-54.7%
Dividend cut (-54.7% YoY) — warning sign

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