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Usinas Siderurgicas

USIMINAS SA ADR REGS

Usinas Siderurgicas de Minas Gerais SA is a Brazil-based company engaged in producing and distributing flat steel products. The company's product portfolio comprises ordinary heavy plates, Sincron series premium heavy plates, hot strips, cold-rolled, and galvanized products. These products are used in automotive, civil construction, railway, electric, white goods, offshore platforms, and agricultural and construction machinery. The Brazilian domestic market represents the majority of the company's sales, while the United States, Argentina, and Turkey are the export destination markets for the company.

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Unexpected Countries Could Rise As Latin America&#39;s New Mining Champions

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Usiminas Posts Q3 Net Loss

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Earnings Roundup

USINAS SA B PFD S/ADR by Usinas Siderurgicas de Minas Gerais S.A.

Usinas Siderurgicas de Minas Gerais SA

After a two-year-long rut, the Latin American mining sector is finally staging a rebound. In a recent <a href="http://www.mining.com/peru-brazil-to-emerge-latin-americas-new-mining-gems/">article</a>, Mining.com&rsquo;s Cecilia Jamasmie shared an interesting view regarding who the winners of this recovery will be, and it&rsquo;s not the usual suspects but two rather embattled economies in the region: Brazil and Peru.
According to BMI Research, neither the countries&rsquo; political instability nor the operational risks related to it are enough to offset the opportunities provided by Peru&rsquo;s large project pipeline in copper, or Brazil&rsquo;s competitive iron ore industry. Having said this, the firm noted that the long-standing mining leader in the region, Chile, will maintain its spot as the front-runner, especially in the copper segment.
<a href="https://www.benzinga.com/files/u82070/brazil-peru-latam-mining.jpg"><img alt="" src="https://www.benzinga.com/files/u82070/brazil-peru-latam-mining.jpg" /></a>
Finally, the report pointed out that Argentina&rsquo;s new pro-mining president should help it regain some of the ground lost during the previous decade, as a more socially and environmentally-concerned government ruled the country. However, the road to recovery will not be an easy one, the experts added.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/general/education/16/09/8486947/how-inverse-etfs-can-help-you-play-fed-rate-hike-decisions">How Inverse ETFs Can Help You Play Fed Rate Hike Decisions</a></bzrelatedlink>
&ldquo;Despite holding rich deposits of copper, gold, silver, zinc and lithium, local regulations are tough &mdash; seven of the country&#39;s 23 provinces currently ban open-pit mining altogether due to environmental concerns,&rdquo; Jamasmie article explicated.
<h3>Not For The Risk-Averse</h3>
Having said this, BMI&rsquo;s report went on to warn investors about some of the risks, which include illegal gold mining, a turbulent labor market, underdeveloped infrastructure and tightening environmental regulations. The risk heightens in Venezuela and Central America, the analysts added, while Chile, Colombia, Mexico and Brazil offer more developed infrastructure, and thus, more limited risk.
<h3>Some Companies To Look At</h3>
A few mining companies that operate in Latin America include:
<ul>
<li>
		BHP Billiton Limited (ADR) (NYSE: <a class="ticker" href="/stock/bhp#NYSE">BHP</a>).</li>
<li>
		Vale SA (ADR) (NYSE: <a class="ticker" href="/stock/vale#NYSE">VALE</a>).</li>
<li>
		Companhia Siderurgica Nacional (ADR) (NYSE: <a class="ticker" href="/stock/sid#NYSE">SID</a>).</li>
<li>
		Ternium SA (ADR) (NYSE: <a class="ticker" href="/stock/tx#NYSE">TX</a>).</li>
<li>
		Rio Tinto plc (ADR) (NYSE: <a class="ticker" href="/stock/rio#NYSE">RIO</a>).</li>
<li>
		Antofagasta plc (ADR) (OTC: <a class="ticker" href="/stock/anfgy#OTC">ANFGY</a>).</li>
<li>
		Usinas Siderurgics d Mns Grs SA Usms-ADR (OTC: <a class="ticker" href="/stock/usnzy#OTC">USNZY</a>).</li>
<li>
		Anglo American plc (ADR) (OTC: <a class="ticker" href="/stock/ngloy#OTC">NGLOY</a>).</li>
<li>
		Grupo Mexico S.A. de C.V. (USA) (OTC: <a class="ticker" href="/stock/gmbxf#OTC">GMBXF</a>).</li>
<li>
		Paranapanema SA (ADR) (OTC: <a class="ticker" href="/stock/pnppy#OTC">PNPPY</a>).</li>
<li>
		Barrick Gold Corporation (USA) (NYSE: <a class="ticker" href="/stock/abx#NYSE">ABX</a>).</li>
</ul>
<a href="https://pro.benzinga.com/?utm_source=Benzinga&amp;utm_medium=Benzinga%20Top%20of%20Article&amp;am%22%3">Full ratings data available on Benzinga Pro.</a>
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email <a href="mailto:feedback@benzinga.com">feedback@benzinga.com</a> with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

	Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above, nor was this article conceived as investment advice.

Unexpected Countries Could Rise As Latin America's New Mining Champions

Brazil's Usinas Siderúrgicas de Minas Gerais SA (OTC: <a class="ticker" href="/stock/usnzy#OTC">USNZY</a>) posted a net loss in the third quarter.

It posted a quarterly net loss of 124.85 million reais ($62 million), versus a year-ago net income of 154.03 million reais. Usiminas posted a loss of 86.51 million reais in the second quarter. However, analysts were expecting a loss of 91.5 million reais. 

Usiminas shares closed at $4.97 yesterday.

Rockwell Automation Inc (NYSE: <a class="ticker" href="/stock/rok#NYSE">ROK</a>) reported a 53.7% surge in its fourth-quarter profit. Rockwell Automation's quarterly net income climbed to $201.8 million, or $1.39 per share, from $131.3 million, or $0.91 per share, in the year-ago period. However, analysts were expecting earnings of $1.21 per share. Its revenue surged 21.9%.

Southern Union Co (NYSE: <a class="ticker" href="/stock/sug#NYSE">SUG</a>) reported downbeat quarterly profit on Tuesday. Southern Union's third-quarter net earnings surged to $58.0 million, or $0.46 per share, from $36.6 million, or $0.29 per share, in the year-ago period. Its adjusted profit came in at $0.42 per share, versus analysts' estimates of $0.44 per share. Southern Union's operating revenue climbed to $617.2 million, versus analysts' estimates of $536 million.

Zebra Technologies Corp (NASDAQ: <a class="ticker" href="/stock/zbra#NASDAQ">ZBRA</a>) reported upbeat quarterly results and issued weak fourth quarter revenue forecast. Zebra Technologies expects Q4 earnings of $0.57 to $0.64 per share from continuing operations on revenue of $242 to 255 million. However, analysts were expecting earnings of $0.60 per share on revenue of $256 million. Zebra Technologies' third quarter net income from continuing operations climbed to $45 million, or $0.64 per share, from $26.1 million, or $0.48 per share, in the year-ago period. Its sales gained to $253.3 million from $229.8 million. However, analysts were expecting earnings of $0.60 per share on revenue of $252.4 million.

Carrizo Oil &amp; Gas Inc (NASDAQ: <a class="ticker" href="/stock/crzo#NASDAQ">CRZO</a>) reported a 69% surge in its third-quarter earnings. Carrizo's quarterly profit rose to $21.6 million, or $0.55 per share, from $12.8 million, or $0.37 per share, in the year-ago period. Excluding certain items, Carrizo earned $0.24 per share. Its revenue surged 69% to $51.67 million. However, its adjusted revenue gained 51% to $58.7 million. However, analysts were expecting earnings of $0.27 per share on revenue of $67 million. 

TMX Group Inc (OTC: <a class="ticker" href="/stock/tmxgf#OTC">TMXGF</a>) reported a 21% rise in its third-quarter earnings. TMX Group's quarterly earnings surged to C$67 million, or 90 Canadian cents per share, from C$55.2 million, or 74 Canadian cents per share, in the year-ago period. Its adjusted earnings came in at 90 Canadian cents per share, versus analysts' estimates of 87 Canadian cents per share. Its overall revenue gained 15% to C$167.8 million, versus analysts' estimates of C$165 million.

MakeMyTrip Limited (NASDAQ: <a class="ticker" href="/stock/mmyt#NASDAQ">MMYT</a>) reported upbeat quarterly results. MakeMyTrip's second-quarter earnings came in at $74,240, or around break even on a per share basis, versus a year-ago loss of $1.8 million, or $0.07 per share. Excluding items, MakeMyTrip earned $0.04 per share, versus analysts' estimates of $0.03 per share. MakeMyTrip's total revenue surged 84% to $43.8 million. Its revenue after service costs gained to $21.3 million, versus analysts' estimates of $18.7 million.

James River Coal Co (NASDAQ: <a class="ticker" href="/stock/jrcc#NASDAQ">JRCC</a>) swung to a Q3 loss on Tuesday. James River Coal posted a quarterly net loss at $3.7 million, or $0.11 per share, versus a year-ago net income of $9.2 million, or $0.33 per share. Its revenue surged to $303.9 million.

HollyFrontier Corp (NYSE: <a class="ticker" href="/stock/hfc#NYSE">HFC</a>) reported a rise in its Q3 profit and revenue. HollyFrontier's quarterly profit surged to $523.1 million, or $2.48 per share, from $51.2 million, or $0.48 per share, in the year-earlier period. HollyFrontier's revenue climbed to $5.17 billion, from $2.1 billion. However, analysts were expecting earnings of $2.29 per share on revenue of $4.57 billion.

Fossil Inc (NASDAQ: <a class="ticker" href="/stock/fosl#NASDAQ">FOSL</a>) reported upbeat quarterly profit, but lowered its Q4 earnings forecast. Fossil expects Q4 earnings of $1.75 to $1.78 per share, versus its earlier view of $1.78 to $1.82 per share. However, analysts were expecting earnings of $1.78 per share. Fossil's third-quarter net income rose to $69.6 million, or $1.09 per share, from $68.2 million, or $1.00 per share, in the year-ago period. Its revenue climbed 22.7% to $642.9 million. However, analysts were expecting earnings of $1.03 per share on revenue of $642.2 million.

ScottsMiracle-Gro (NYSE: <a class="ticker" href="/stock/smg#NYSE">SMG</a>) reported a wider-than-expected Q4 loss. ScottsMiracle posted an adjusted quarterly loss of $28.8 million, or $0.46 per share, from continuing operations. However, analysts were expecting a loss of $0.44 per share. Its sales dropped 1% y/y to $417.2 million.

E. W. Scripps Co (NYSE: <a class="ticker" href="/stock/ssp#NYSE">SSP</a>) swung to a Q3 loss on Tuesday. E. W. Scripps posted a quarterly loss of $10.7 million, or $0.19 per share, versus a year-ago net income of $5.4 million, or $0.08 per share. E. W. Scripps posted an adjusted quarterly loss of $0.09 per share. Its revenue fell to $167.9 million, from $183.6 million. However, analysts were expecting a loss of $0.13 per share on revenue of $167.3 million.

LMI Aerospace Inc (NASDAQ: <a class="ticker" href="/stock/lmia#NASDAQ">LMIA</a>) reported downbeat quarterly results and lowered its full-year sales view. LMI Aerospace now expects 2011 sales of $253.3 to $259.3 million, versus its prior view of $258 to $268 million. However, analysts were expecting 2011 sales of $262.4 million. LMI Aerospace reported its Q3 net income at $4.1 million, or $0.35 per share, versus $2.6 million, or $0.23 per share, in the year-ago period. Its revenue surged to $64.8 million. However, analysts were expecting earnings of $0.43 per share on revenue of $66.8 million. LMI Aerospace lifted its 2012 sales view to $290 to $308 million, versus its prior forecast of $283 to $303 million.

Japan Airlines Corp reported strong earnings for the first half ended September 30. For the full business year ending March 2012, Japan Airlines now projects a net profit of Y120 billion, versus its earlier view of Y75.7 billion, and operating profit of Y140 billion on revenue of Y1.150 trillion. For the first half, JAL posted a net profit of Y97.4 billion. JAL's operating profit came in at Y106.1 billion on revenue of Y599.8 billion. 

MMX Mineracao e Metalicos SA (OTC: <a class="ticker" href="/stock/mmxmy#OTC">MMXMY</a>) swung to a Q3 loss. MMX posted a quarterly net loss of 243.2 million Brazilian reais ($138.8 million), versus a year-ago profit of BRL88.5 million. Its gross revenue climbed 14% to BRL287.9 million. MMX's earnings before interest, taxes, depreciation and amortization came in at BRL50.2 million, versus BRL72.8 million, in the year-ago period.

InterContinental Hotels Group PLC (NYSE: <a class="ticker" href="/stock/ihg#NYSE">IHG</a>) reported a 19% surge in its Q3 net profit. InterContinental Hotels' quarterly net profit climbed to $129 million, from $108 million, in the year-ago period. Its revenue gained 11% to $467 million. InterContinental Hotels' operating profit, before exceptional items, jumped 33% to $153 mi llion.

Munich Re AG reported a 63% drop in its Q3 net profit. Munich Re's quarterly net profit declined to EUR286 million, from EUR764 million, versus analysts' estimates of EUR542 million. Its net investment result fell 39% to EUR1.35 billion from EUR2.20 billion. Munich Re's operating profit dropped 27% to EUR839 million from EUR1.15 billion, versus analysts' estimates of EUR902 million. 

Marks &amp; Spencer Group PLC (OTC: <a class="ticker" href="/stock/maksy#OTC">MAKSY</a>) reported a 10% decline in its first-half profit. Marks &amp; Spencer's pretax profit, before tax and exceptional items, dropped to GBP315.2 million from GBP348.6 million, versus analysts' estimates of GBP311 million. Marks &amp; Spencer's net profit for the period surged to GBP311.9 million, from GBP162.2 million, in the year-ago period.

Vodafone Group PLC (NASDAQ: <a class="ticker" href="/stock/vod#NASDAQ">VOD</a>) reported an 11% decline in its first-half net profit. Vodafone's net profit for the period dropped to GBP6.68 billion, from GBP7.54 billion, in the year-ago period. Its earnings before interest, tax, depreciation and amortization gained 2.3% to GBP7.53 billion, versus GBP7.36 billion, versus analysts' estimates of GBP7.4 billion. Vodafone's revenue climbed 4.1% to GBP23.52 billion from GBP22.6 billion, versus analysts' estimates of GBP23.4 billion.

Isuzu Motors Ltd (OTC: <a class="ticker" href="/stock/isuzy#OTC">ISUZY</a>) reported a 16% rise in its net profit for the six months ended September 30. Isuzu Motors' net profit for the period gained to Y33.73 billion, from Y29.20 billion, in the year-ago period. Its sales dropped 9.2% to Y658.14 billion from Y724.88 billion. For the current fiscal year ending March 2012, Isuzu Motors lifted its net profit forecast to Y74 billion versus Y65 billion. However, it cut its sales view to Y1.430 trillion versus Y1.480 trillion.

Bridgestone Corp (OTC: <a class="ticker" href="/stock/brdcy#OTC">BRDCY</a>) reported a 25% rise in its net profit for the fiscal third quarter. Bridgestone's quarterly net profit climbed to Y27.8 billion, from Y22.2 billion, in the year-ago period. Bridgestone's sales gained 9.9% to Y775.3 billion from Y705.2 billion. However, its operating profit surged 42% to Y49.7 billion from Y34.9 billion. 
Societe Generale SA (OTC: <a class="ticker" href="/stock/scgly#OTC">SCGLY</a>) reported a 31% drop in its third-quarter net income. Societe Generale's quarterly profit declined to 622 million euros ($855.7 million), from €896 million, in the year-ago period. Its net banking revenue rose to €6.5 billion from €6.3 billion. On a comparable basis, Societe Generale's net revenue gained 4%. However, analysts were expecting a profit of €732 million on revenue of €5.97 billion.

Toyota Motor Corp (NYSE: <a class="ticker" href="/stock/tm#NYSE">TM</a>) reported a drop in its first-half net profit. Toyota's net profit for the period declined to 81.5 billion yen (1.04 billion), from ¥289.1 billion, in the year-ago period. However, its profit for the July-September quarter fell 18.5% to ¥80.4 billion. Toyota posted an operating loss of ¥32.6 billion for the March-September period, versus a year-ago operating profit of ¥323.1 billion.

Adecco SA (OTC: <a class="ticker" href="/stock/ahexy#OTC">AHEXY</a>) reported a 13% surge in its Q3 net profit. Adecco's quarterly net profit rose to EUR145 million, from EUR128 million, in the year-ago period. Its revenue gained to EUR5.27 billion, from CHF5.06 billion. However, analysts were expecting a net profit of EUR151.5million on revenue of EUR5.37 billion.

Thai Oil (OTC: <a class="ticker" href="/stock/toipf#OTC">TOIPF</a>) reported an 8.6% rise in its third-quarter net profit. Thai Oil's quarterly net profit climbed to THB2.52 billion ($82.2 million), from THB2.32 billion, versus analysts' estimates of THB2.36 billion. Thai Oil's revenue surged to THB116.38 billion from THB81.01 billion.

Usinas Siderurgicas de Minas Gerais SA (OTC: <a class="ticker" href="/stock/usnzy#OTC">USNZY</a>) reported a decline in its Q3 profit. Usinas' quarterly net profit fell to 154 million Brazilian reais ($88 million), from BRL514 million, in the year-earlier period. Its net revenue declined to BRL3 billion from BRL3.24 billion. Usinas' earnings before interest, taxes, depreciation and amortization (EBITDA) fell to BRL343 million from BRL735 million.

Usinas Siderurgicas de Minas Gerais SA (OTC: <a class="ticker" href="/stock/usnzy#OTC">USNZY</a>) reported a decline in its Q3 profit.

Usinas' quarterly net profit fell to 154 million Brazilian reais ($88 million), from BRL514 million, in the year-earlier period. Its net revenue declined to BRL3 billion from BRL3.24 billion. 

Usinas' earnings before interest, taxes, depreciation and amortization (EBITDA) fell to BRL343 million from BRL735 million.

Usinas shares closed at $6.76 yesterday.

Usinas Reports Drop In Q3 Profit

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