Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Shares Gap Down – Here’s What Happened

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) shares 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 Analysts Forecast Growth

Separately, Zacks Research cut Usinas Siderurgicas de Minas Gerais from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Stock Performance

The stock has a market cap of $695.73 million, a price-to-earnings ratio of -3.74, a PEG ratio of 0.14 and a beta of 1.46. The company’s 50 day simple moving average is $1.70 and its 200 day simple moving average is $1.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.96 and a current ratio of 4.54.

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, topping analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.20 billion. Usinas Siderurgicas de Minas Gerais had a negative net margin of 8.87% and a positive return on equity of 5.60%. On average, equities research analysts anticipate that Usinas Siderurgicas de Minas Gerais SA will post 0.27 earnings per share for the current 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.