Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Trading 11.8% Higher – Here’s Why

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) shares were up 11.8% on Thursday . The company traded as high as $1.99 and last traded at $1.99. Approximately 2,700 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 151,136 shares. The stock had previously closed at $1.78.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered 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 analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Trading Up 2.8%

The company has a debt-to-equity ratio of 0.26, a current ratio of 4.54 and a quick ratio of 2.67. The stock’s 50-day moving average is $1.50 and its two-hundred day moving average is $1.29. The stock has a market cap of $1.10 billion, a P/E ratio of -5.15 and a beta of 1.32.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last issued its 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). Usinas Siderurgicas de Minas Gerais had a positive return on equity of 4.13% and a negative net margin of 10.22%.The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $6.63 billion. Equities research analysts anticipate that Usinas Siderurgicas de Minas Gerais SA will post 0.21 EPS 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.