Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Shares Gap Up – Time to Buy?

Shares of Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) gapped up before the market opened on Thursday . The stock had previously closed at $1.63, but opened at $1.75. Usinas Siderurgicas de Minas Gerais shares last traded at $1.76, with a volume of 8,867 shares changing hands.

Wall Street Analyst Weigh In

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

Usinas Siderurgicas de Minas Gerais Price Performance

The firm has a fifty day moving average price of $1.84 and a two-hundred day moving average price of $1.45. 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 capitalization of $898.42 million, a P/E ratio of -4.21, a P/E/G ratio of 0.14 and a beta of 1.46.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last announced its quarterly earnings results on Friday, April 24th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $6.63 billion. Usinas Siderurgicas de Minas Gerais had a positive return on equity of 4.13% and a negative net margin of 10.22%. On average, analysts expect that Usinas Siderurgicas de Minas Gerais SA will post 0.28 EPS 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.