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 before the market opened on Wednesday . The stock had previously closed at $2.1950, but opened at $2.05. Usinas Siderurgicas de Minas Gerais shares last traded at $2.20, with a volume of 1,611 shares trading hands.

Analyst Upgrades and Downgrades

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, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Stock Performance

The firm has a market cap of $1.14 billion, a P/E ratio of -5.33 and a beta of 1.42. The company has a 50 day moving average of $1.67 and a 200 day moving average of $1.36. 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 announced its quarterly earnings results on Friday, April 24th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate 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 negative net margin of 10.22% and a positive return on equity of 4.13%. Analysts predict that Usinas Siderurgicas de Minas Gerais SA will post 0.3 EPS for the current fiscal year.

Usinas Siderurgicas de Minas Gerais Company Profile

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.