Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Shares Gap Up – Here’s What Happened

Shares of Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) gapped up prior to trading on Tuesday . The stock had previously closed at $1.35, but opened at $1.39. Usinas Siderurgicas de Minas Gerais shares last traded at $1.38, with a volume of 19,700 shares trading hands.

Wall Street Analysts Forecast Growth

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

Usinas Siderurgicas de Minas Gerais Price Performance

The stock’s 50-day moving average is $1.50 and its 200 day moving average is $1.53. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.54 and a quick ratio of 2.96. The company has a market cap of $788.86 million, a PE ratio of -4.24, a PEG ratio of 0.13 and a beta of 1.47.

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