Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Shares Up 7.9% - Here's What Happened

Key Points

• Usinas Siderurgicas de Minas Gerais stock rose by 7.9%, trading at $0.94, though the trading volume was down significantly at 6,900 shares compared to an average of 57,155 shares.
• Zacks Research upgraded the company's rating from "strong sell" to "hold", indicating a cautious improvement in analyst sentiment.
• The company reported earnings per share of $0.01 for the last quarter, missing estimates of $0.02, with revenues of $1.17 billion against a forecast of $6.74 billion.

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY - Get Free Report) shares shot up 7.9% during mid-day trading on Monday . The company traded as high as $0.94 and last traded at $0.94. 6,900 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 57,155 shares. The stock had previously closed at $0.87.

Wall Street Analyst Weigh In

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

Usinas Siderurgicas de Minas Gerais Price Performance

The firm's 50-day moving average is $0.84 and its two-hundred day moving average is $0.92. The company has a market cap of $498.24 million, a P/E ratio of 18.19 and a beta of 1.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.26 and a quick ratio of 2.56.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $6.74 billion. Usinas Siderurgicas de Minas Gerais had a net margin of 1.66% and a return on equity of 1.62%. Analysts anticipate 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.