15 Best Penny Stocks to Buy According to Billionaires

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5. Gerdau S.A. (NYSE:GGB)

Price: $2.94

Number of Hedge Fund Holders: 17 

Number of Billionaire Investors: 8

Total Value of Billionaire Holdings: $69,505,732

Gerdau S.A. (NYSE:GGB) is a Brazil-based multinational steel producer that specializes in long steel products and recycled scrap metal processing. It manufactures steel using mini-mills, integrated mills, and direct reduced iron plants, with 71% of its output derived from recycled scrap metal. The company operates across the Americas, with key facilities in Brazil, the US, Canada, and other Latin American countries.

In fiscal 2024, Gerdau S.A. (NYSE:GGB) had a challenging quarter due to inflationary pressure and high interest rates in Brazil. As a result, its steel shipments during Q4 2024 decreased 3.9% year-over-year to 2.7 million tonnes. Moreover, the net sales also declined 3.2% during the same time. However, on the bright side, the company achieved BRL 1.5 billion in savings through cost-reduction initiatives, enhancing operational efficiency compared to 2023.

Looking ahead, Gerdau S.A. (NYSE:GGB) expects improved demand coming from North America, driven by construction and infrastructural projects. The stock was held by 8 billionaires in Q4 2024, making it one of the best penny stocks to buy according to billionaires.

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