Gerdau S.A. ADR (GGB) Is Now En Route to Higher Prices

Gerdau S.A. ADR (NYSE: GGB) is -18.10% lower on its value in year-to-date trading and has touched a low of $2.92 and a high of $4.33 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GGB stock was last observed hovering at around $3.26 in the last trading session, with the day’s gains setting it 0.05%.

Currently trading at $3.31, the stock is 2.11% and 1.86% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.58 million and changing 1.53% at the moment leaves the stock -6.54% off its SMA200. GGB registered -18.71% loss for a year compared to 6-month loss of -6.32%.

The stock witnessed a 6.43% gain in the last 1 month and extending the period to 3 months gives it a 4.75%, and is 1.53% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.69% over the week and 2.17% over the month.

Current P/E ratio is 7.36 and Fwd P/E is 7.07. Profit margin for the company is 7.88%. Distance from 52-week low is 13.36% and -23.47% from its 52-week high. The company has generated returns on investments over the last 12 months (8.45%).

The EPS is expected to shrink by -33.67% this year.

Gerdau S.A. ADR (GGB) Top Institutional Holders

The shares outstanding are 1.38B, and float is at 1.38B with Short Float at 0.45%.

The top institutional shareholder in the company is FMR LLC with over 80.08 million shares valued at $264.26 million. The investor’s holdings represent 3.1759% of the GGB Shares outstanding. As of 2024-06-30, the second largest holder is CAPITAL INTERNATIONAL INVESTORS with 77.17 million shares valued at $254.66 million to account for 3.0605 of the shares outstanding. The other top investors are CONTRARIAN CAPITAL MANAGEMENT, L.L.C. which holds 20.28 million shares representing 0.8042% and valued at over $66.91 million, while GOLDMAN SACHS GROUP INC holds 0.6851 of the shares totaling 17.28 million with a market value of $57.01 million.