POSCO (NYSE:PKX) Shares Gap Up – Here’s Why

POSCO (NYSE:PKX)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $53.80, but opened at $59.20. POSCO shares last traded at $60.3550, with a volume of 126,586 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of POSCO in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

POSCO Trading Up 12.0%

The stock has a 50 day moving average of $53.37 and a 200-day moving average of $53.25. The company has a market capitalization of $16.11 billion, a P/E ratio of 81.42, a P/E/G ratio of 0.29 and a beta of 1.49. The company has a current ratio of 1.96, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25.

POSCO (NYSE:PKX) last issued its quarterly earnings results on Monday, October 27th. The basic materials company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04. The business had revenue of $12.29 billion for the quarter, compared to the consensus estimate of $12.41 billion. POSCO had a net margin of 0.64% and a return on equity of 0.74%. On average, research analysts predict that POSCO will post 3.74 EPS for the current year.

Hedge Funds Weigh In On POSCO

A number of hedge funds have recently made changes to their positions in the business. Tuttle Capital Management LLC bought a new stake in POSCO during the 4th quarter valued at approximately $475,000. Allworth Financial LP grew its holdings in POSCO by 51.6% during the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock valued at $34,000 after buying an additional 232 shares in the last quarter. Mariner LLC raised its position in shares of POSCO by 13.4% during the third quarter. Mariner LLC now owns 14,537 shares of the basic materials company’s stock valued at $715,000 after buying an additional 1,718 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of POSCO by 1,456.8% in the third quarter. Citadel Advisors LLC now owns 59,453 shares of the basic materials company’s stock worth $2,926,000 after buying an additional 63,835 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in POSCO during the third quarter valued at $378,000.

POSCO Company Profile

POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.

The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.