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

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $1.46, but opened at $1.58. Usinas Siderurgicas de Minas Gerais shares last traded at $1.46, with a volume of 14,417 shares traded.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Usinas Siderurgicas de Minas Gerais from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Stock Performance

The firm has a market cap of $814.06 million, a price-to-earnings ratio of -4.37, a P/E/G ratio of 0.14 and a beta of 1.47. The firm’s 50 day moving average price is $1.48 and its 200-day moving average price is $1.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.44 and a quick ratio of 2.87.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.20 billion. Usinas Siderurgicas de Minas Gerais had a positive return on equity of 5.49% and a negative net margin of 8.87%. On average, analysts anticipate that Usinas Siderurgicas de Minas Gerais SA will post 0.27 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.