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 Wednesday . The stock had previously closed at $1.40, but opened at $1.27. Usinas Siderurgicas de Minas Gerais shares last traded at $1.25, with a volume of 23,558 shares changing hands.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded 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.com, the company presently has a consensus rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Stock Performance

The company has a fifty day moving average of $1.70 and a two-hundred day moving average of $1.53. The stock has a market capitalization of $695.73 million, a P/E ratio of -3.74, a price-to-earnings-growth ratio of 0.14 and a beta of 1.46. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.54 and a quick ratio of 2.96.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Usinas Siderurgicas de Minas Gerais had a positive return on equity of 5.60% and a negative net margin of 8.87%.The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.20 billion. On average, equities analysts anticipate that Usinas Siderurgicas de Minas Gerais SA will post 0.27 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.