Gerdau SA (GGB) Sets New 1-Year High at $2.56
Gerdau SA (NYSE:GGB) reached a new 52-week high during trading on Thursday . The stock traded as high as $2.56 and last traded at $2.50, with a volume of 13,988,673 shares changing hands. The stock had previously closed at $2.38.
Several research analysts have recently commented on the company. Bank of America Corp. restated a “buy” rating on shares of Gerdau SA in a report on Sunday, May 22nd. Credit Suisse Group AG upgraded Gerdau SA from a “neutral” rating to an “outperform” rating in a report on Thursday. Finally, Zacks Investment Research cut Gerdau SA from a “buy” rating to a “hold” rating in a report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.65.
The stock’s market cap is $4.27 billion. The firm’s 50 day moving average is $1.97 and its 200-day moving average is $1.64.
An institutional investor recently raised its position in Gerdau SA stock. Boston Partners raised its stake in shares of Gerdau SA (NYSE:GGB) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,200,000 shares of the company’s stock after buying an additional 200,000 shares during the period. Boston Partners owned about 0.07% of Gerdau SA worth $1,440,000 as of its most recent filing with the SEC.
Gerdau SA (Gerdau) is a producer of long rolled steel. The Company operates in five segments: Brazil (Brazil Business Operation), which includes the steel operations in Brazil (except special steel) and the metallurgical and coking coal operation in Colombia; North America (North America Business Operation), which includes all North American operations, except Mexico and special steel; Latin America (Latin America Business Operation), which includes all Latin American operations, except the operations in Brazil and the metallurgical and coking coal operations in Colombia; Special Steel (Special Steel Business Operation), which includes the special steel operations in Brazil, Spain, the United States and India, and Iron Ore (Iron Ore Business Operation), which includes the iron ore operations in Brazil.
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