Companhia Siderurgica Nacional (NYSE:SID) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Companhia Siderurgica Nacional's diversified business structure with exposure in steel, iron ore mining, logistics, cement and energy industries will prove beneficial over the long run. Also, demand for domestic steel will likely improve with the increase in infrastructural investments. However, the company is exposed to risks arising from near-term headwinds. Huge debt levels and higher costs and expenses, if left unchecked, will prove detrimental to the company's profitability. Moreover, its international operations are subject to risks from unfavorable foreign currency translations.”
Shares of Companhia Siderurgica Nacional (NYSE:SID) traded down 0.871% during midday trading on Thursday, reaching $2.845. 508,712 shares of the company traded hands. Companhia Siderurgica Nacional has a 12-month low of $0.73 and a 12-month high of $3.92. The firm has a market capitalization of $3.86 billion, a PE ratio of 21.391 and a beta of 2.37. The company has a 50-day moving average of $2.83 and a 200 day moving average of $2.70.
A number of institutional investors have recently added to or reduced their stakes in SID. Parametric Portfolio Associates LLC raised its position in Companhia Siderurgica Nacional by 19.1% in the second quarter. Parametric Portfolio Associates LLC now owns 8,927,474 shares of the company’s stock valued at $21,872,000 after buying an additional 1,428,672 shares during the last quarter. Van ECK Associates Corp increased its stake in Companhia Siderurgica Nacional by 70.4% in the second quarter. Van ECK Associates Corp now owns 2,142,826 shares of the company’s stock valued at $5,250,000 after buying an additional 885,201 shares during the period. State Street Corp increased its stake in Companhia Siderurgica Nacional by 1.2% in the second quarter. State Street Corp now owns 1,636,342 shares of the company’s stock valued at $4,008,000 after buying an additional 18,653 shares during the period. Hsbc Holdings PLC increased its stake in Companhia Siderurgica Nacional by 5.4% in the second quarter. Hsbc Holdings PLC now owns 737,062 shares of the company’s stock valued at $1,806,000 after buying an additional 37,942 shares during the period. Finally, Citigroup Inc. increased its stake in Companhia Siderurgica Nacional by 1.5% in the second quarter. Citigroup Inc. now owns 164,886 shares of the company’s stock valued at $404,000 after buying an additional 2,393 shares during the period. Institutional investors and hedge funds own 3.52% of the company’s stock.
About Companhia Siderurgica Nacional
Companhia Siderurgica Nacional operates throughout the entire steel production chain, from the mining of iron ore to the production and sale of a range of steel products, including coated galvanized flat steel and tinplate. The Company operates through five segments: steel, mining, cement, logistics and energy.
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