Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Shares Gap Up – Still a Buy?

Shares of Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) gapped up before the market opened on Tuesday . The stock had previously closed at $1.46, but opened at $1.57. Usinas Siderurgicas de Minas Gerais shares last traded at $1.58, with a volume of 58,972 shares trading hands.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Usinas Siderurgicas de Minas Gerais from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Usinas Siderurgicas de Minas Gerais Trading Down 1.3%

The company’s 50-day moving average is $1.31 and its 200-day moving average is $1.18. The firm has a market cap of $849.12 million, a price-to-earnings ratio of -3.97 and a beta of 1.28. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.67 and a current ratio of 4.12.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last issued its quarterly earnings results on Friday, April 24th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $6.63 billion. Usinas Siderurgicas de Minas Gerais had a positive return on equity of 4.13% and a negative net margin of 10.22%. On average, research analysts predict that Usinas Siderurgicas de Minas Gerais SA will post 0.12 earnings per share for the current year.

Usinas Siderurgicas de Minas Gerais Company Profile

Usinas Siderúrgicas de Minas Gerais SA (OTCMKTS: USNZY), widely known as Usiminas, is one of Brazil’s leading integrated steel producers. The company operates across the full steel value chain, from iron ore mining to the manufacture and distribution of flat steel products. Its portfolio includes hot- and cold-rolled coils, coated sheets, tin plates, plates and tubular products, which serve a broad array of end markets such as construction, automotive, packaging, machinery and energy.

Founded in the mid-1950s through a partnership between Brazilian and international investors, Usiminas is headquartered in Belo Horizonte and maintains its principal steelmaking facilities in Ipatinga, Minas Gerais, as well as secondary operations in Cubatão (São Paulo) and Santa Cruz.