Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Shares Gap Up - What's Next?

Key Points

• Usinas Siderurgicas de Minas Gerais shares opened at $0.96, up from the previous close of $0.92, with a trading volume of 70,000 shares.
• Zacks Research upgraded the company's rating from "strong sell" to a "hold", bringing the average stock rating to "hold".
• The firm reported earnings of $0.01 per share, missing estimates of $0.02, and had a revenue of $1.17 billion, significantly below predicted levels of $6.74 billion.

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $0.92, but opened at $0.96. Usinas Siderurgicas de Minas Gerais shares last traded at $0.96, with a volume of 70,000 shares.

Analysts Set New Price Targets

Separately, Zacks Research raised Usinas Siderurgicas de Minas Gerais from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold".

Usinas Siderurgicas de Minas Gerais Stock Performance

The firm has a market cap of $525.91 million, a PE ratio of 19.20 and a beta of 1.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.26 and a quick ratio of 2.56. The stock has a 50-day moving average price of $0.86 and a 200 day moving average price of $0.90.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY - Get Free Report) last issued its earnings results on Friday, July 25th. The basic materials company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). Usinas Siderurgicas de Minas Gerais had a net margin of 1.66% and a return on equity of 1.62%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $6.74 billion. Research analysts forecast that Usinas Siderurgicas de Minas Gerais SA will post 0.09 earnings per share for the current year.

Usinas Siderurgicas de Minas Gerais Company Profile

Usinas Siderúrgicas de Minas Gerais SA manufactures and markets flat steel products in Brazil and internationally. The company operates through three segments: Mining and Logistics, Steel Metallurgy, and Steel Transformation. It extracts and process iron ore, such as pellet and sinter feed and, granulated iron ore; provides storage, handling, and road cargo transportation services; and operates highway and railway cargo terminals.

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