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Nexa Resources Reports Solid Q3 2024 Earnings
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Nexa Resources Reports Solid Q3 2024 Earnings

Nexa Resources ( (NEXA) ) has released its Q3 earnings. Here is a breakdown of the information Nexa Resources presented to its investors.

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Nexa Resources S.A. is a mining company operating in the non-ferrous metals sector, primarily focusing on the production of zinc and copper, with operations spanning across Latin America. The company is known for its strategic focus on optimizing its portfolio and commitment to operational excellence.

In its third-quarter report for 2024, Nexa Resources announced a net income of $6 million and an adjusted EBITDA of $183 million, showcasing a robust performance amidst fluctuating metal prices. The report highlighted the company’s successful cost management and consistent production levels, despite challenges in the mining segment due to lower average zinc grades and the cessation of operations at certain mines.

Key financial metrics included a 9% increase in net revenues year-over-year to $709 million, driven by higher zinc and copper prices, although slightly offset by lower smelting sales volumes. The company also reported a significant improvement in its net leverage ratio, reflecting its commitment to financial health and stability. Strategic transactions, such as the sale of the Chapi mine and Pukakaqa project, were executed to focus on key assets.

Looking ahead, Nexa Resources remains optimistic about the demand outlook for zinc and copper, supported by global economic fundamentals. The company continues to implement strategies to enhance production efficiency and maintain its competitive edge in the market, aiming for a strong close to the year.

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