Gerdau SA (ADR) (GGB) was Downgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Oct 10, 2016.
Many Wall Street Analysts have commented on Gerdau SA (ADR). Gerdau SA (ADR) was Upgraded by Morgan Stanley to ” Overweight” on Aug 18, 2016. Gerdau SA (ADR) was Upgraded by Credit Suisse to ” Outperform” on Aug 4, 2016.
Gerdau SA (ADR) opened for trading at $2.95 and hit $2.995 on the upside on Friday, eventually ending the session at $2.98, with a gain of 3.83% or 0.11 points. The heightened volatility saw the trading volume jump to 1,61,48,871 shares. Company has a market cap of $5,118 M.
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.