Nexa Resources S.A. (NEXA) in São Paulo, Brazil, is in the zinc mining and smelting business. The company’s board of directors recently approved a $50 million distribution, of which approximately $44 million will be treated as a cash dividend and roughly $6 million as a share premium. Its subsidiary Nexa Resources Perú also announced the early redemption and cancellation of all its outstanding 4.625% senior notes, due 2023.
The stock has gained 10.2% in price over the past three months to close Friday's trading session at $8.39. In addition, it is currently trading 34.4% below its 52-week high of $12.80, which it hit on Oct. 18, 2021. Furthermore, higher metal prices and the global economic recovery makes its near-term prospects look bright.
