3 Solid Steel Stocks to Bet on Despite the Slump in Prices [Yahoo! Finance]
Gerdau S.A. (GGB)
US:NYSE Investor Relations:
ri.gerdau.com/?idioma=enu
Company Research
Source: Yahoo! Finance
Notably, U.S. steel prices have seen a significant downward correction this year after a strong run in late 2023 that extended into early 2024. Despite the industry's downturn, a few stocks are holding up well and look poised to run further. L.B. Foster Company FSTR, Carpenter Technology Corporation CRS and Gerdau S.A. GGB fit the bill. Steel prices have witnessed a steep decline in the United States and globally this year. The benchmark hot-rolled coil (HRC) prices tumbled to below the $700 per short ton level in late September 2023. The downside was partly driven by shorter lead times. The United Auto Workers (UAW) strike and the lower cost of raw materials also weighed on HRC prices. Nevertheless, U.S. steel prices rebounded during the fourth quarter, with HRC prices breaking above $1,000 per short ton in December, driven by U.S. steel mills' price hike actions and the resolution to the UAW strike. However, HRC prices have retreated since early 2024, with prices plummeting to
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News
- Are Investors Undervaluing Gerdau (GGB) Right Now? [Yahoo! Finance]Yahoo! Finance
- Down -19.65% in 4 Weeks, Here's Why Gerdau (GGB) Looks Ripe for a Turnaround [Yahoo! Finance]Yahoo! Finance
- Is Gerdau (GGB) Stock Undervalued Right Now? [Yahoo! Finance]Yahoo! Finance
- Is The Options Market Predicting a Spike In Gerdau (GGB) Stock? [Yahoo! Finance]Yahoo! Finance
- Gerdau S.A. (NYSE: GGB) was upgraded by analysts at Bank of America Co. from a "neutral" rating to a "buy" rating. They now have a $5.00 price target on the stock, up previously from $4.50.MarketBeat
GGB
Sec Filings
- 6/7/24 - Form 6-K
- 5/31/24 - Form 6-K
- 5/31/24 - Form SD
- GGB's page on the SEC website