Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Shares Gap Up - Here's Why

Key Points

• Usiminas shares opened higher, rising from a prior close of $1.06 to $1.17, though they later traded at $1.00 on volume of 203,530 shares.
• The company exceeded quarterly expectations, reporting EPS of $0.06 versus the $0.02 consensus and revenue of $1.21 billion, slightly above forecasts.
• Despite a negative net margin of 8.87%, Usiminas maintains strong short-term liquidity, with a quick ratio of 2.87 and current ratio of 4.44; analysts expect full-year EPS of $0.28.

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY - Get Free Report) gapped up before the market opened on Thursday. The stock had previously closed at $1.06, but opened at $1.17. Usinas Siderurgicas de Minas Gerais shares last traded at $1.00, with a volume of 203,530 shares traded.

Usinas Siderurgicas de Minas Gerais Stock Performance

The business's 50-day moving average price is $1.40 and its 200 day moving average price is $1.48. The company has a market cap of $580.69 million, a P/E ratio of -3.12, a P/E/G ratio of 0.13 and a beta of 1.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.87 and a current ratio of 4.44.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY - Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. Usinas Siderurgicas de Minas Gerais had a negative net margin of 8.87% and a positive return on equity of 5.49%. The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.20 billion. As a group, analysts expect that Usinas Siderurgicas de Minas Gerais SA will post 0.28 earnings per share for the current year.

About Usinas Siderurgicas de Minas Gerais

Usinas Siderúrgicas de Minas Gerais SA (Usiminas) is a Brazilian steelmaker focused on the production and sale of flat steel products. Its portfolio includes hot-rolled, cold-rolled, galvanized and heavy plate steel used in industries such as automotive manufacturing, construction, machinery, energy and industrial equipment.

Founded in 1956, Usiminas operates steelmaking facilities in Ipatinga, Minas Gerais, and Cubatão, São Paulo. The company also maintains activities related to iron ore mining, logistics, steel processing and the distribution of steel products, supporting its operations from raw materials through delivery to industrial customers.

Usiminas primarily serves the Brazilian market while also supplying customers in international markets.

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