UPDATE 1-Brazil's CSN nears German unit sale, in talks for ore streaming [Reuters]
Companhia Siderurgica Nacional S.A. (SID)
US:NYSE Investor Relations:
ir.csn.com.br
Company Research
Source: Reuters
UPDATE 1-Brazil's CSN nears German unit sale, in talks for ore streaming - Reuters 2 Min Read (Updates with CEO comments) By Alberto Alerigi and Marcelo Rochabrun SAO PAULO, May 8 (Reuters) - Brazilian steelmaker Companhia Siderurgica Nacional said on Thursday it is still in talks for a $500 million iron ore streaming deal and is close to reaching an agreement to sell its German unit. In a conference call with analysts, Chief Executive Benjamin Steinbruch said he is pushing for the right price to sell the German unit, which is key to hitting a debt reduction target by the end of the year. Steinbrunch also pledged better results in the next quarter, after CSN announced late on Wednesday that quarterly profit plunged to 87 million reais ($22 million), from 1.5 billion reais a year earlier. CSN shares were down 0.6 percent in Thursday afternoon trading. Steinbruch said he expects to raise steel prices by 10 percent during the second quarter to improve results and reduce leverage by the e
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SID
News
- Companhia Siderúrgica Nacional (NYSE: SID) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
- Companhia Siderúrgica Nacional (NYSE: SID) was downgraded by analysts at Bank of America Co. from a "neutral" rating to an "underperform" rating.MarketBeat
- Companhia Siderúrgica Nacional (NYSE: SID) had its "underperform" rating re-affirmed by analysts at Itau BBA Securities. They now have a $3.00 price target on the stock.MarketBeat
- Companhia Siderúrgica Nacional (NYSE: SID) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating.MarketBeat
- Companhia Siderúrgica Nacional (NYSE: SID) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
SID
Analyst Actions
- 4/4/24 - Itau BBA
SID
Sec Filings
- 5/2/24 - Form 6-K
- 5/2/24 - Form 6-K
- 5/1/24 - Form 20-F
- SID's page on the SEC website