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I thought I would put up a list of some interesting South America stocks for a pair of reasons. First as you can see from the chart above of the ETF for the Latin America 40 (ILF) that the region’s stocks have pulled back significantly over the recent few months. Second, I have a strong interest in the region and keep my eye out for interesting stocks. I hope to point out a few here you have not heard of or considered.

CSN is an integrated steel producer with global scale and also a miner of iron ore, limestone, dolomite, and maintains stakes in the power and railroad industries.  Wait!  There's more!  They also make cement, manages investment funds, and ports. 

This is a nice entry point as it is way off it's 52-week high of  $52.46. 

I like the company because it's inexpensive(forward P/E of 8.77), has little debt, is experiencing tremendous demand for its products( 5-yearsales growth is avg. is about 25%) , and is a very well run business overall( 5 yr. averages for ROA, ROI, and ROE are

The Story

The price for steel, as

CSN Posts 1Q08 Net Income of R$767 Million. Net Revenue Reaches R$3.0 Billion and EBITDA Totals R$1.3 Billion
Wednesday May 7, 1:46 am ET

     -- CSN posted a 1Q08 net income of R$ 767 million, 51% up on the previous 
        quarter and flat over the 1Q07, when the Company recognized 
        non-recurring gains of R$ 255 million (net) from the transaction 
        involving the offer for all the shares of the UK-