Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) Shares Gap Up – Still a Buy?

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $3.43, but opened at $3.59. Nippon Steel & Sumitomo Metal shares last traded at $3.51, with a volume of 168,212 shares traded.

Nippon Steel & Sumitomo Metal Stock Down 1.1%

The firm’s 50 day simple moving average is $3.54 and its 200-day simple moving average is $3.84. The company has a market cap of $18.81 billion, a price-to-earnings ratio of -29.17 and a beta of 0.68. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.78 and a quick ratio of 0.85.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) last posted its earnings results on Wednesday, May 13th. The company reported $0.08 EPS for the quarter. The firm had revenue of $17.89 billion for the quarter, compared to analyst estimates of $18.20 billion.

About Nippon Steel & Sumitomo Metal

Nippon Steel & Sumitomo Metal Corporation is a major Japanese steel producer formed in 2012 through the merger of Nippon Steel and Sumitomo Metal. Headquartered in Tokyo, the company operates integrated steelmaking and rolling facilities and is widely recognized as one of the largest steel manufacturers in Japan and among the leading producers globally. Its business scope spans primary steel production, downstream processing, and a range of steel-related engineering and service activities.

The company’s product offering includes a broad portfolio of steel products such as hot- and cold-rolled flat products, plates, pipes and tubes, coated steels, stainless and specialty steels, and high-strength steels tailored for automotive, machinery, construction, energy and infrastructure applications.