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

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $1.39, but opened at $1.31. Usinas Siderurgicas de Minas Gerais shares last traded at $1.29, with a volume of 6,533 shares traded.

Wall Street Analysts Forecast Growth

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

Usinas Siderurgicas de Minas Gerais Trading Down 2.9%

The stock has a 50 day simple moving average of $1.52 and a 200-day simple moving average of $1.53. The firm has a market capitalization of $739.56 million, a P/E ratio of -3.97, a P/E/G ratio of 0.13 and a beta of 1.46. The company has a current ratio of 4.54, a quick ratio of 2.96 and a debt-to-equity ratio of 0.26.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations 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 research analysts forecast that Usinas Siderurgicas de Minas Gerais SA will post 0.27 EPS 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.