Nexa Resources Inks Deal to Sell Otavi Project to Midnab Resources

Nexa Resources S.A. NEXA announced that it has inked a deal to sell ten Exclusive Prospecting Licenses (EPL) in Namibia to Midnab Resources, a subsidiary of Midas Minerals Ltd. These EPLs are part of the Otavi and Namibia North projects in Namibia. This move is in sync with Nexa Resources’ ongoing portfolio optimization strategy.Details on Nexa Resources’ Otavi Project SaleNexa Resources will receive $3 million at closing.  Midnab Resources will also make an additional contingent payment of up to $7 million in three installments. This payment is, however, subject to the achievement of certain development milestones. NEXA will also retain royalties on the project's future progress.The Otavi project was previously a joint venture between Nexa Resources and Japan's JOGMEC. JOGMEC will receive 49% of the sale proceeds.The deal is expected to close by Dec. 31, 2025, subject to customary conditions.Nexa Resources is prioritizing profitable assets, boosting free cash flow and sticking to its disciplined capital allocation strategy. The company continues to assess opportunities in its portfolio, with Namibia being a key region for expanding copper exploration beyond Latin America.NEXA’s Q1 PerformanceNexa Resources came out with first-quarter 2025 earnings of 16 cents per share, beating the Zacks Consensus Estimate of nine cents. The company posted a loss of 15 cents per share a year ago.NEXA posted revenues of $627 million for the quarter ended March 2025, missing the Zacks Consensus Estimate of $679 million. The top line improved 15.9% year over year.Nexa Resources' Stock Price PerformanceShares of NEXA have lost 27.4% in the past year compared with the industry’s 8.6% decline. Image Source: Zacks Investment ResearchNEXA’s Zacks Rank & Stocks to Consider Nexa Resources currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS, SSR Mining Inc. SSRM and Idaho Strategic Resources IDR. Carpenter Technology currently sports a Zacks Rank #1 (Strong Buy) while SSR Mining and Idaho Strategic Resources carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Carpenter Technology has an average trailing four-quarter earnings surprise of 11.1%. The Zacks Consensus Estimate for CRS’ 2025 earnings is pegged at $7.20 per share, which indicates year-over-year growth of 51.9%. Carpenter Technology shares have gained 111% in the last year.SSR Mining has an average trailing four-quarter earnings surprise of 58.8%. The Zacks Consensus Estimate for SSRM’s 2025 earnings is pegged at $1.14 per share, implying year-over-year growth of 307%. SSR Mining stock has soared 88.6% in the last year.Idaho Strategic Resources has an average trailing four-quarter earnings surprise of 21.7%. The Zacks Consensus Estimate for Idaho Strategic’s 2025 earnings is pegged at 78 cents per share, indicating year-over-year growth of 16.4%. IDR shares have jumped 24.5% in the last year.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Silver Standard Resources Inc. (SSRM): Free Stock Analysis Report Nexa Resources S.A. (NEXA): Free Stock Analysis Report Idaho Strategic Resources, Inc. (IDR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks