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

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) shares gapped up before the market opened on Thursday . The stock had previously closed at $1.63, but opened at $1.75. Usinas Siderurgicas de Minas Gerais shares last traded at $1.76, with a volume of 8,867 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Usinas Siderurgicas de Minas Gerais from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Stock Performance

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 business has a 50-day moving average price of $1.83 and a 200 day moving average price of $1.45. The stock has a market capitalization of $909.38 million, a P/E ratio of -4.26, a PEG ratio of 0.14 and a beta of 1.46.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last released its earnings results on Friday, April 24th. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates 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 forecast that Usinas Siderurgicas de Minas Gerais SA will post 0.28 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.