Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Stock Price Down 21.4% – What’s Next?

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY)’s share price fell 21.4% on Monday. The stock traded as low as $1.10 and last traded at $1.10. 29,949 shares were traded during mid-day trading, a decline of 77% from the average session volume of 128,557 shares. The stock had previously closed at $1.40.

Usinas Siderurgicas de Minas Gerais Stock Down 6.8%

The stock has a market capitalization of $602.60 million, a P/E ratio of -3.24 and a beta of 1.44. The firm has a 50 day simple moving average of $1.40 and a two-hundred day simple moving average of $1.48.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.20 billion. On average, research analysts predict 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.