Companhia Siderúrgica Nacional (NYSE:SID) Lifted to “Strong-Buy” at StockNews.com

Companhia Siderúrgica Nacional (NYSE:SIDGet Free Report) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Separately, Bank of America upgraded Companhia Siderúrgica Nacional from an “underperform” rating to a “buy” rating and set a $4.10 price target for the company in a report on Monday, November 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.20.

Read Our Latest Research Report on SID

Companhia Siderúrgica Nacional Price Performance

Shares of SID traded down $0.04 during mid-day trading on Monday, reaching $3.19. 3,131,558 shares of the company’s stock were exchanged, compared to its average volume of 2,536,853. The company has a quick ratio of 1.08, a current ratio of 1.53 and a debt-to-equity ratio of 1.87. Companhia Siderúrgica Nacional has a 52-week low of $2.11 and a 52-week high of $4.03. The company has a market cap of $4.42 billion, a price-to-earnings ratio of -63.70, a PEG ratio of 0.93 and a beta of 1.99. The company has a 50-day simple moving average of $3.55 and a two-hundred day simple moving average of $3.06.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of Companhia Siderúrgica Nacional by 9.3% during the 4th quarter. Legal & General Group Plc now owns 598,525 shares of the basic materials company’s stock worth $2,343,000 after purchasing an additional 51,066 shares during the period. Perpetual Ltd acquired a new stake in Companhia Siderúrgica Nacional in the fourth quarter worth $2,474,000. OLD Mission Capital LLC bought a new stake in Companhia Siderúrgica Nacional in the fourth quarter valued at $308,000. Point72 Asset Management L.P. bought a new stake in Companhia Siderúrgica Nacional in the fourth quarter valued at $443,000. Finally, Creative Planning boosted its holdings in shares of Companhia Siderúrgica Nacional by 278.5% during the fourth quarter. Creative Planning now owns 49,041 shares of the basic materials company’s stock valued at $193,000 after acquiring an additional 36,083 shares during the period. 2.38% of the stock is currently owned by institutional investors.

About Companhia Siderúrgica Nacional

(Get Free Report)

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as high, medium, low carbon, micro-alloyed, ultra-low-carbon, and interstitial free slabs; hot-rolled products, including heavy and light-gauge hot-rolled coils and sheets; cold-rolled products comprising cold-rolled coils and sheets; galvanized products; tin mill products consisting of flat-rolled low-carbon steel coils or sheets; and profiles, channels, UPE sections, and steel sleepers for the distribution, packaging, automotive, home appliance, and construction industries.

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