Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Shares experienced unusually high trading activity — approximately 246,128 shares traded (a 99% increase vs. the prior session) and the stock was trading up about 1.8% at $1.3950.
• Zacks Research upgraded Usinas Siderurgicas de Minas Gerais from "hold" to "strong-buy," and MarketBeat shows a consensus rating of "Strong Buy."
• The company beat quarterly EPS estimates ($0.01 vs. -$0.02) with $1.14B in revenue, but still reported a negative net margin of -12.13% despite a positive ROE of 1.98%.

Shares of Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY - Get Free Report) saw unusually-high trading volume on Friday . Approximately 246,128 shares changed hands during mid-day trading, an increase of 99% from the previous session's volume of 123,672 shares.The stock last traded at $1.3950 and had previously closed at $1.37.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Usinas Siderurgicas de Minas Gerais from a "hold" rating to a "strong-buy" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has a consensus rating of "Strong Buy".

Usinas Siderurgicas de Minas Gerais Trading Up 1.8%

The stock has a 50 day simple moving average of $1.27 and a 200-day simple moving average of $1.15. The firm has a market capitalization of $764.21 million, a P/E ratio of -3.03 and a beta of 1.28. The company has a current ratio of 4.12, a quick ratio of 2.67 and a debt-to-equity ratio of 0.27.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY - Get Free Report) last released its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.03. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Usinas Siderurgicas de Minas Gerais had a positive return on equity of 1.98% and a negative net margin of 12.13%. On average, equities research analysts forecast that Usinas Siderurgicas de Minas Gerais SA will post 0.09 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.

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