Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Shares Gap Down – Time to Sell?

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) gapped down prior to trading on Wednesday . The stock had previously closed at $1.30, but opened at $1.18. Usinas Siderurgicas de Minas Gerais shares last traded at $1.25, with a volume of 2,931 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded shares of Usinas Siderurgicas de Minas Gerais from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Price Performance

The firm has a market cap of $690.25 million, a P/E ratio of -3.71, a P/E/G ratio of 0.12 and a beta of 1.46. The firm’s fifty day simple moving average is $1.58 and its 200 day simple moving average is $1.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.96 and a current ratio of 4.54.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. Usinas Siderurgicas de Minas Gerais had a positive return on equity of 5.60% and a negative net margin of 8.87%. As a group, analysts forecast that Usinas Siderurgicas de Minas Gerais SA will post 0.27 earnings per share for the current year.

About Usinas Siderurgicas de Minas Gerais

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.