Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Shares Down 4% – Here’s Why

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) dropped 4% during mid-day trading on Wednesday . The stock traded as low as $1.87 and last traded at $1.87. Approximately 11,091 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 175,807 shares. The stock had previously closed at $1.9474.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded 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 data from MarketBeat, the stock presently has an average rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Stock Down 1.2%

The company’s 50 day moving average price is $1.75 and its two-hundred day moving average price is $1.40. The company has a quick ratio of 2.96, a current ratio of 4.54 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.05 billion, a P/E ratio of -4.94, a P/E/G ratio of 0.17 and a beta of 1.42.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last posted its quarterly earnings results on Friday, April 24th. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Usinas Siderurgicas de Minas Gerais had a negative net margin of 10.22% and a positive return on equity of 4.13%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $6.63 billion. As a group, research analysts expect that Usinas Siderurgicas de Minas Gerais SA will post 0.3 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.