UBS Group Begins Coverage on Companhia Siderúrgica Nacional (NYSE:SID)

Equities research analysts at UBS Group began coverage on shares of Companhia Siderúrgica Nacional (NYSE:SID) in a note issued to investors on Wednesday,Benzinga reports. The firm set a “sell” rating and a $1.30 price target on the basic materials company’s stock. UBS Group’s price objective indicates a potential downside of 17.98% from the company’s current price.

Separately, StockNews.com cut shares of Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th.

Companhia Siderúrgica Nacional Price Performance

Companhia Siderúrgica Nacional stock opened at $1.59 on Wednesday. Companhia Siderúrgica Nacional has a 1 year low of $1.27 and a 1 year high of $3.29. The company’s 50 day simple moving average is $1.48 and its 200-day simple moving average is $1.82. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -10.57 and a beta of 2.16. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.93 and a current ratio of 1.34.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Companhia Siderúrgica Nacional by 48,194.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 441,898 shares of the basic materials company’s stock valued at $1,056,000 after buying an additional 440,983 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Companhia Siderúrgica Nacional in the 4th quarter valued at $35,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Companhia Siderúrgica Nacional in the 3rd quarter valued at $3,824,000. The Manufacturers Life Insurance Company acquired a new position in shares of Companhia Siderúrgica Nacional in the 3rd quarter valued at $3,585,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Companhia Siderúrgica Nacional by 11.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 617,047 shares of the basic materials company’s stock valued at $1,475,000 after buying an additional 65,219 shares in the last quarter.

About Companhia Siderúrgica Nacional

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel Industry, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as hot and cold rolled, galvanized, galvalume, pre-painted, and metal sheets products; coil, sheets, and derivatives; tiles and derivatives, pipes, and profiles; long steel products; steel packaging solutions for the food industry; chemical packaging solution; and carbochemical products.