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

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) gapped up prior to trading on Wednesday . The stock had previously closed at $1.61, but opened at $1.7050. Usinas Siderurgicas de Minas Gerais shares last traded at $1.65, with a volume of 6,818 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered 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, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Trading Down 2.7%

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 firm has a market capitalization of $876.51 million, a PE ratio of -4.10, a P/E/G ratio of 0.17 and a beta of 1.46. The stock’s 50-day simple moving average is $1.83 and its 200-day simple moving average is $1.51.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last posted its 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). Usinas Siderurgicas de Minas Gerais had a positive return on equity of 4.13% and a negative net margin of 10.22%.The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $6.63 billion. As a group, sell-side analysts expect that Usinas Siderurgicas de Minas Gerais SA will post 0.27 EPS 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.