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

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) shares gapped up before the market opened on Tuesday . The stock had previously closed at $1.35, but opened at $1.39. Usinas Siderurgicas de Minas Gerais shares last traded at $1.38, with a volume of 19,700 shares changing hands.

Analyst Ratings Changes

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 investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Stock Up 0.7%

The firm’s 50 day moving average is $1.49 and its 200-day moving average is $1.54. The firm has a market cap of $816.25 million, a PE ratio of -4.38, a P/E/G ratio of 0.14 and a beta of 1.47. The company has a quick ratio of 2.96, a current ratio of 4.54 and a debt-to-equity ratio of 0.26.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations 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%. As a group, equities research analysts expect that Usinas Siderurgicas de Minas Gerais SA will post 0.27 earnings per share for the current fiscal 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.