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Companhia Siderurgica Nacional (SID) Stock Price Up 6.3%

Shares of Companhia Siderurgica Nacional (NYSE:SID) rose 6.3% during mid-day trading on Monday . The stock traded as high as $3.42 and last traded at $3.36. Approximately 3,924,932 shares traded hands during mid-day trading, an increase of 49% from the average daily volume of 2,639,080 shares. The stock had previously closed at $3.16.

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SID has been the subject of several analyst reports. BidaskClub raised shares of Companhia Siderurgica Nacional from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Credit Suisse Group raised shares of Companhia Siderurgica Nacional from an “underperform” rating to a “neutral” rating in a research note on Thursday.

The company has a market cap of $4.56 billion, a price-to-earnings ratio of 10.80 and a beta of 2.28. The company has a 50-day moving average price of $2.62 and a 200 day moving average price of $2.57.

Several hedge funds have recently modified their holdings of SID. Morgan Stanley lifted its holdings in shares of Companhia Siderurgica Nacional by 343.8% in the 1st quarter. Morgan Stanley now owns 3,237,262 shares of the basic materials company’s stock worth $9,453,000 after acquiring an additional 2,507,863 shares during the last quarter. Arlington Capital Management Inc. lifted its holdings in shares of Companhia Siderurgica Nacional by 4.5% in the 1st quarter. Arlington Capital Management Inc. now owns 5,047,968 shares of the basic materials company’s stock worth $14,740,000 after acquiring an additional 217,061 shares during the last quarter. Credit Suisse AG lifted its holdings in shares of Companhia Siderurgica Nacional by 11.2% in the 1st quarter. Credit Suisse AG now owns 735,909 shares of the basic materials company’s stock worth $2,150,000 after acquiring an additional 74,312 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Companhia Siderurgica Nacional in the 1st quarter worth approximately $174,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Companhia Siderurgica Nacional by 34.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 223,036 shares of the basic materials company’s stock worth $651,000 after acquiring an additional 56,664 shares during the last quarter. Hedge funds and other institutional investors own 3.23% of the company’s stock.

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Companhia Siderurgica Nacional Company Profile

Companhia Siderurgica Nacional is a Brazil-based company engaged in the steel industry. The Company operates throughout the entire steel production chain, from the mining of iron ore to the production and sale of a range of steel products, including coated galvanized flat steel and tinplate. The Company operates in five segments: Steel, Mining, Cement, Logistics and Energy.