Nexa Resources (NEXA) Surges 6.2%: Is This an Indication of Further Gains?

Nexa Resources S.A. (NEXA) shares ended the last trading session 6.2% higher at $9.4. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 31.1% gain over the past four weeks.The shares of Nexa Resources gained since the company announced that it has completed the previously disclosed sale of its Otavi Project in Namibia to Midnab Resources (Pty) Ltd., a wholly owned subsidiary of Midas Minerals Ltd. The Otavi project was previously a joint venture between Nexa Resources and Japan's JOGMEC. JOGMEC will receive 49% of the sale proceeds.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.This company is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +135%. Revenues are expected to be $828.12 million, up 11.8% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Nexa Resources, the consensus EPS estimate for the quarter has been revised 25% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on NEXA going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Nexa Resources belongs to the Zacks Mining - Miscellaneous industry. Another stock from the same industry, Globe Specialty Metals (GSM), closed the last trading session 0.8% lower at $4.72. Over the past month, GSM has returned 13.6%.Globe Specialty Metals' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.07. Compared to the company's year-ago EPS, this represents a change of -333.3%. Globe Specialty Metals currently boasts a Zacks Rank of #4 (Sell).Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>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 Nexa Resources S.A. (NEXA): Free Stock Analysis Report Ferroglobe PLC (GSM): 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