Gerdau SA (ADR) (GGB) was Upgraded by Credit Suisse to ” Outperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Credit Suisse advised their investors in a research report released on Aug 4, 2016.
Gerdau SA (ADR) closed down -0.11 points or -4.66% at $2.25 with 60,51,545 shares getting traded on Tusday. Post opening the session at $2.38, the shares hit an intraday low of $2.25 and an intraday high of $2.41 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
Gerdau S.A. (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. The Company’s mills are located in Argentina Brazil Canada Chile Colombia Spain the United States Guatemala India Mexico Peru the Dominican Republic Uruguay and Venezuela.