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

Gerdau S.A. ADR (NYSE: GGB) is -3.47% lower on its value in year-to-date trading and has touched a low of $2.27 and a high of $4.04 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 $2.67 in the last trading session, with the day’s gains setting it 0.11%.

Currently trading at $2.78, the stock is 6.78% and 1.65% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 11.58 million and changing 4.12% at the moment leaves the stock -9.48% off its SMA200. GGB registered -25.27% loss for a year compared to 6-month loss of -22.99%.

The stock witnessed a 12.55% gain in the last 1 month and extending the period to 3 months gives it a -9.74%, and is 8.59% 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 2.88% over the week and 2.83% over the month.

Current P/E ratio is 9.84 and Fwd P/E is 7.10. Profit margin for the company is 4.85%. Distance from 52-week low is 22.47% and -31.19% from its 52-week high. The company has generated returns on investments over the last 12 months (4.88%).

The EPS is expected to shrink by -3.49% this year.

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

The shares outstanding are 1.31B, and float is at 1.29B with Short Float at 1.09%.

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 3.8068% 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 3.6685 of the shares outstanding. The other top investors are CONTRARIAN CAPITAL MANAGEMENT, L.L.C. which holds 20.28 million shares representing 0.9639% and valued at over $66.91 million, while GOLDMAN SACHS GROUP INC holds 0.8212 of the shares totaling 17.28 million with a market value of $57.01 million.