Bradesco Corretora Downgrades Companhia Siderúrgica Nacional (NYSE:SID) to Neutral

Bradesco Corretora downgraded shares of Companhia Siderúrgica Nacional (NYSE:SIDGet Rating) from an outperform rating to a neutral rating in a report issued on Wednesday morning, The Fly reports.

A number of other equities research analysts have also recently commented on the stock. TheStreet cut shares of Companhia Siderúrgica Nacional from a b- rating to a c+ rating in a research note on Monday, July 11th. Bank of America cut shares of Companhia Siderúrgica Nacional from a neutral rating to an underperform rating in a research note on Friday, August 26th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the company currently has an average rating of Hold.

Companhia Siderúrgica Nacional Stock Performance

Shares of SID opened at $2.45 on Wednesday. The company has a market capitalization of $3.40 billion, a PE ratio of 2.01, a P/E/G ratio of 0.90 and a beta of 1.79. Companhia Siderúrgica Nacional has a 52-week low of $2.42 and a 52-week high of $5.97. The company has a 50-day simple moving average of $2.82 and a 200-day simple moving average of $3.79. The company has a quick ratio of 1.12, a current ratio of 1.68 and a debt-to-equity ratio of 1.25.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

Hedge funds have recently modified their holdings of the company. Creative Planning boosted its position in shares of Companhia Siderúrgica Nacional by 1,561.6% in the second quarter. Creative Planning now owns 15,602 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 14,663 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Companhia Siderúrgica Nacional by 16.6% in the second quarter. AQR Capital Management LLC now owns 125,917 shares of the basic materials company’s stock worth $369,000 after acquiring an additional 17,961 shares during the last quarter. Millennium Management LLC boosted its position in shares of Companhia Siderúrgica Nacional by 114.2% in the second quarter. Millennium Management LLC now owns 97,288 shares of the basic materials company’s stock worth $285,000 after acquiring an additional 51,870 shares during the last quarter. CoreCommodity Management LLC boosted its position in shares of Companhia Siderúrgica Nacional by 35.7% in the second quarter. CoreCommodity Management LLC now owns 974,052 shares of the basic materials company’s stock worth $2,854,000 after acquiring an additional 256,007 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Companhia Siderúrgica Nacional in the second quarter worth approximately $99,000. 2.82% of the stock is owned by institutional investors and hedge funds.

Companhia Siderúrgica Nacional Company Profile

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Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates in 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 that consist 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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