Companhia Siderurgica Nacional (NYSE:SID) was down 4.1% during mid-day trading on Wednesday . The stock traded as low as $2.71 and last traded at $2.78, with a volume of 1,007,955 shares traded. The stock had previously closed at $2.90.

Separately, Zacks Investment Research raised Companhia Siderurgica Nacional from a “hold” rating to a “strong-buy” rating and set a $2.25 target price for the company in a research note on Thursday, March 31st.

The firm has a market capitalization of $4.18 billion and a P/E ratio of 513.33. The stock has a 50 day moving average of $2.29 and a 200-day moving average of $1.99.

Companhia Siderurgica Nacional (CSN) is a Brazil-based company primarily engaged in the steel industry. The Company divides its business into five segments: Steel sector, which is involved in the production, distribution and marketing of flat steel, galvanized steel and metal packaging; Mining sector, which is active in the production of iron ore; Cement sector, which is involved in the manufacture of cement, as well as in the exploration of limestone and dolomite; Logistics sector, which consists of around two railway companies and a hub port, and Energy sector, which includes investments in energy generation projects to guarantee the Company’s self-sufficiency.

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