The stock of Gerdau SA (ADR) (NYSE:GGB) is a huge mover today! About 4.41M shares traded hands. Gerdau SA (ADR) (NYSE:GGB) has risen 134.13% since March 15, 2016 and is uptrending. It has outperformed by 128.64% the S&P500.
The move comes after 5 months positive chart setup for the $4.97 billion company. It was reported on Oct, 18 by Barchart.com. We have $4.96 PT which if reached, will make NYSE:GGB worth $2.98B more.
Analysts await Gerdau SA (ADR) (NYSE:GGB) to report earnings on November, 3.
Gerdau SA (ADR) (NYSE:GGB) Ratings Coverage
Out of 4 analysts covering Gerdau (NYSE:GGB), 3 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 75% are positive. Gerdau has been the topic of 5 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Bank of America downgraded the shares of GGB in a report on Monday, February 22 to “Underperform” rating. The rating was upgraded by Credit Suisse on Thursday, August 4 to “Outperform”. The firm has “Overweight” rating given on Thursday, August 18 by Morgan Stanley. The rating was initiated by Goldman Sachs on Monday, August 10 with “Buy”.
According to Zacks Investment Research, “GERDAU S.A. throughout its 101 years of activities, they are largest long steel producer in Latin America, and have made an important contribution in building the history of the Brazilian industry. Gerdau Group dedicates itself to meeting the growing demands of several dynamic industries involved in the production of goods and in the development of the economy. Gerdau steel is used in construction and industry as well as in the automotive and agricultural sectors.”
More news for Gerdau SA (ADR) (NYSE:GGB) were recently published by: Zacks.com, which released: “Strength Seen in Gerdau Sa Adr (GGB): Stock Soars 6.9%” on July 13, 2016. Quotes.Wsj.com‘s article titled: “DOW JONES, A NEWS CORP COMPANY” and published on February 11, 2011 is yet another important article.
GGB Company Profile
Gerdau S.A. (Gerdau), incorporated on November 20, 1961, is a maker of long steel in the North and South America. The Firm is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela. The Company’s divisions are Brazil Operations, which includes activities of steel and iron ore in Brazil, except Special Steels, and the operation of metallurgical coal and coke in Colombia; North America Operations, which includes all activities in North America, except those of Mexico and Special Steels; South America Operations, which includes all activities in South America, except Brazil and the operation of metallurgical coal and coke in Colombia, and Special Steel Operations, including special steel activities in Brazil, Spain, the United States and India.
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