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

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) gapped up prior to trading on Wednesday . The stock had previously closed at $2.13, but opened at $2.2250. Usinas Siderurgicas de Minas Gerais shares last traded at $2.22, with a volume of 63,032 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut 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 analyst has rated the stock with a Hold rating, According to MarketBeat.com, Usinas Siderurgicas de Minas Gerais has a consensus rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Price Performance

The stock has a market capitalization of $1.25 billion, a P/E ratio of -5.84 and a beta of 1.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.96 and a current ratio of 4.54. The stock has a 50-day simple moving average of $1.56 and a 200 day simple moving average of $1.31.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last announced its quarterly earnings results on Friday, April 24th. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $6.63 billion. Usinas Siderurgicas de Minas Gerais had a negative net margin of 10.22% and a positive return on equity of 4.13%. On average, equities analysts forecast that Usinas Siderurgicas de Minas Gerais SA will post 0.21 earnings per share for the current fiscal 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.