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

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY)’s share price 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 traded.

Analysts Set New Price Targets

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 equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Price Performance

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. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -5.33 and a beta of 1.42.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last posted its quarterly earnings results on Friday, April 24th. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $6.63 billion. As a group, research analysts anticipate 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.