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

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $2.06, but opened at $1.98. Usinas Siderurgicas de Minas Gerais shares last traded at $2.06, with a volume of 8,186 shares.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of Usinas Siderurgicas de Minas Gerais from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Usinas Siderurgicas de Minas Gerais currently has a consensus rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Price Performance

The company has a market cap of $1.01 billion, a price-to-earnings ratio of -4.72, a PEG ratio of 0.16 and a beta of 1.42. The company has a quick ratio of 2.96, a current ratio of 4.54 and a debt-to-equity ratio of 0.26. The company’s fifty day moving average price is $1.77 and its two-hundred day moving average price is $1.40.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last released its quarterly earnings results on Friday, April 24th. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $6.63 billion. On average, equities research analysts forecast that Usinas Siderurgicas de Minas Gerais SA will post 0.3 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.