NEXA
Nexa Resources S.A.

Nexa Resources S.A.NEXA

Basic Materials · Other Industrial Metals & Mining
11.40USD
+0.80%
Nov 08, 2026
NEXA overview ready
Integrated Latin American Zinc Producer and Smelter Facing Concentrate Supply Constraints
Integrated Latin American zinc producer and smelter with direct, but economically mixed, exposure to zinc prices, concentrate availability, and treatment-charge conditions.
Primary theme is lagging
Critical Materials is lagging (-15.2pp vs SPY over 21 sessions; 0 of 14 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Fair valuation
Nexa Resources S.A.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Volatility in zinc prices.
Market Nov 6Price action Nov 7Research Oct 9

Conviction Level

PriceAction3.4BusinessPerformance—BusinessQuality—Valuation3.5ThemeMomentum1.0Business Performance not yet available.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−15.2pp
Theme return
−20.2%
Beating SPY
0 of 14
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$1.5B
Avg Volume (60D)
676.6K
60 sessions
Revenue Growth YoY
+27.2%
Trailing twelve months
Gross Margin
+29.5%
Operating Margin
+22.4%
Trailing twelve months
Free Cash Flow Yield
+22.3%
Distance from 200DMA
-11.8%
P/E
10.4x
EV / EBITDA
2.8x
EV / Sales
0.8x
Market metrics as of Nov 7, 2026

Business Performance

Business Quality

Not assessed

Not assessed — the company files under a regime the financial record does not cover yet.

Fundamentals & Valuation

Both valuation perspectives agree this company is cheap. The published stance is held at fair because cyclical earnings may be at a cycle peak, inflating the earnings the multiple is measured against.
Nexa Resources S.A. has a Fair valuation stance because the price broadly reflects the cash the business actually produces, with upside and risk reasonably balanced.

Company Research

Thesis
Integrated Latin American zinc producer and smelter with direct, but economically mixed, exposure to zinc prices, concentrate availability, and treatment-charge conditions. The story is still emerging, so the exposure is real but early.
Opportunity
Moderate opportunity
A mine-supply and smelting-balance cycle in which constrained zinc-concentrate availability, low treatment charges, refinery disruptions, and low exchange inventories tighten refined-zinc markets and reshape producer and smelter economics.
Key risk
Volatility in zinc prices.

Economic classification

Loading the economic classification…

Business & Markets

Basic Materials · Other Industrial Metals & Mining
What they do

Nexa Resources S.A. Operates integrated zinc mining and smelting operations primarily in Latin America, extracting and processing polymetallic ores to produce refined zinc and related by-products.

How it earns

The company generates revenue through the sale of mined and refined metals and metallurgical by-products on transactional commodity markets.

Products & services
Metallic zinc
Zamac
Gold
Sulfuric acid
Zinc oxide
Silver concentrate
Copper cement
Copper sulfate
Lead concentrate
Lead-silver concentrate
Customers & end markets
Industrial metal refiners
Manufacturers using zinc and related metals
Chemical producers
Global commodity markets
Market position

Integrated Latin American zinc producer and smelter with significant regional assets and exposure to zinc market dynamics.

Demand drivers
High cyclicality

Due to sensitivity to global zinc prices, concentrate supply fluctuations, and smelting capacity utilization.