Boliden

Boliden has signed an agreement to acquire the majority stake in Nexa Resources from Votorantim. Votorantim will receive 0.250 newly issued Boliden shares for each Nexa share, which will leave Boliden with 64.68% of the votes after closing and Votorantim with about 7% of Boliden. Closing is expected in Q1 2027 and is subject to shareholder approval and regulatory clearances; Boliden will make a voluntary takeover offer for remaining Nexa shares within 30 days after closing. Nexa will remain a Luxembourg company listed on the NYSE, the supervisory board will have seven members of whom four are affiliated with Boliden, and the management will remain in office. » More on de.investing.com

Boliden’s share fell about 5.6% after the Q2 2026 interim report showed a charge of SEK 350m from planned maintenance shutdowns and the consequences of a seismic event at the Garpenberg mine, which has reduced production to roughly 30% of normal levels. Active talks about a possible acquisition of stakes in Nexa Resources have also unsettled investors. The analyst consensus is “hold”, the price target implies only limited upside; the stock traded at €43.13 and is well below its 52-week high. » More on de.investing.com

Boliden reported an operating result (excluding PIR) of SEK 4,061m for Q4 2025 (+6.5% vs. prior year) and earnings per share of SEK 15.31 (+40%); the board proposed a dividend of SEK 11. Free cash flow fell to SEK 2,689m, while CapEx remained stable at SEK 4,626m. The Mines segment benefited significantly from acquisitions (Somincor, Zinkgruvan), higher precious metal prices and the restart of Tara, whereas Smelters declined sharply due to lower smelting charges, currency effects and maintenance. For 2026 Boliden plans group CapEx of around SEK 15bn, expects production increases at Odda and Rönnskär, but sees weather-related risks at Somincor in Q1. » More on de.investing.com