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

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $2.0328, but opened at $2.14. Usinas Siderurgicas de Minas Gerais shares last traded at $2.1050, with a volume of 33,428 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 report 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 firm’s 50 day simple moving average is $1.73 and its 200-day simple moving average is $1.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.96 and a current ratio of 4.54. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -5.51, a P/E/G ratio of 0.17 and a beta of 1.42.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last announced its earnings results on Friday, April 24th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Usinas Siderurgicas de Minas Gerais had a negative net margin of 10.22% and a positive return on equity of 4.13%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $6.63 billion. Analysts expect that Usinas Siderurgicas de Minas Gerais SA will post 0.3 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.