Boston, MA 10/17/2013 (wallstreetpr) – There is no disputing that steel is among the most sought after metal in the world currently. This is further proven right by the performance of companies like Companhia Siderurgica Nacional (ADR) (NYSE:SID) at the stock exchange. Since its inception, SID is among the few companies that have enjoyed a steady upward growth in the stocks market. As such the company attracts a wide variety of investors not to mention the obscenely high number of shares it sells in a day. With its interest majorly in Brazil, the mining giant is set to even get better.
The obvious flares of looming development that have been lit by China indicate the demand of steel is set to go even higher. It is already in great demand in Brazil in preparation of the upcoming highly publicized world cup 2014. In this regard, SID has had to put strategies in place so as to be able to exploit the chances availed by this demand. With a market cap of about $7.2 billion, the company has plans underway to expand so as to be able to absorb the steel demand surges and the steady supply that is required. However, the expansion has come at a price as the growth that the company has experienced over the years slowed down and plummeted slightly by 0.68% as witnessed in the stocks exchange. However, this is a short term nuisance for a long term harvest.
Due to its current position and given the bright future that lies ahead for this mining cash cow, investors are advised that investing in SID would be a good addition to their portfolio. The numbers that this company kicks out are enough to market it without much effort. The company made a 183.3% earning recently and bounced from making a loss of $0.6 per share to making a profit of $0.5 per share. For any investor that must be a scoop.