Why Gerdau S.A. ADR (GGB) Stock Could See Much Higher Prices Ahead

Gerdau S.A. ADR (NYSE: GGB) is -17.86% lower on its value in year-to-date trading and has touched a low of $2.92 and a high of $4.13 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 $3.30 in the last trading session, with the day’s gains setting it 0.02%.

Currently trading at $3.32, the stock is -2.78% and 0.47% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.13 million and changing 0.61% at the moment leaves the stock -4.53% off its SMA200. GGB registered -6.44% loss for a year compared to 6-month loss of -10.67%. The firm has a 50-day simple moving average (SMA 50) of $3.3046 and a 200-day simple moving average (SMA200) of $3.4777083.

The stock witnessed a -1.48% gain in the last 1 month and extending the period to 3 months gives it a -4.60%, and is -7.00% down 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 2.59% over the week and 2.28% over the month.

Current P/E ratio is 7.39 and Fwd P/E is 7.04. Profit margin for the company is 7.88%. Distance from 52-week low is 13.70% and -19.59% 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 -33.07% 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 0.29%.

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.