Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Trading Down 6.5% - Here's What Happened

Key Points

• Usinas Siderurgicas de Minas Gerais (USNZY) shares fell 6.5% on Tuesday, trading as low as $1.23 and last at $1.29 on a volume spike of 154,744 shares (up 23% vs. the 126,198 average).
• Zacks upgraded the stock from "hold" to "strong-buy" on April 13, and MarketBeat lists the stock's consensus rating as "Strong Buy."
• Mixed fundamentals: the company beat quarterly EPS estimates ($0.01 vs. -$0.02 expected) on $1.14B revenue, but still reports a negative net margin (−12.13%) and a negative P/E (−2.87), with analysts projecting 0.12 EPS for the year.

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY - Get Free Report)'s share price traded down 6.5% on Tuesday . The company traded as low as $1.23 and last traded at $1.29. 154,744 shares were traded during mid-day trading, an increase of 23% from the average session volume of 126,198 shares. The stock had previously closed at $1.38.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Usinas Siderurgicas de Minas Gerais from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has an average rating of "Strong Buy".

Usinas Siderurgicas de Minas Gerais Price Performance

The stock's 50 day moving average price is $1.28 and its two-hundred day moving average price is $1.16. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.12 and a quick ratio of 2.67. The firm has a market capitalization of $723.12 million, a price-to-earnings ratio of -2.87 and a beta of 1.28.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY - Get Free Report) last issued its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.03. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.14 billion. Usinas Siderurgicas de Minas Gerais had a negative net margin of 12.13% and a positive return on equity of 1.98%. On average, equities research analysts anticipate that Usinas Siderurgicas de Minas Gerais SA will post 0.12 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.