ArcelorMittal SA (MT) Sees Strong Trading Volume
Shares of ArcelorMittal SA (NYSE:MT) saw an uptick in trading volume on Tuesday . 24,554,583 shares were traded during mid-day trading, an increase of 60% from the previous session’s volume of 15,314,071 shares.The stock last traded at $5.59 and had previously closed at $5.27.
A number of brokerages have recently commented on MT. Berenberg Bank reissued a “buy” rating on shares of ArcelorMittal SA in a research report on Sunday, May 29th. JPMorgan Chase & Co. set a €4.30 ($4.73) price objective on shares of ArcelorMittal SA and gave the company a “sell” rating in a research report on Monday, April 18th. Commerzbank AG set a €5.00 ($5.49) price objective on shares of ArcelorMittal SA and gave the company a “neutral” rating in a research report on Friday, May 6th. Goldman Sachs Group Inc. set a €5.40 ($5.93) price objective on shares of ArcelorMittal SA and gave the company a “buy” rating in a research report on Tuesday, April 12th. Finally, Barclays PLC set a €4.50 ($4.95) price objective on shares of ArcelorMittal SA and gave the company a “neutral” rating in a research report on Tuesday, May 10th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. ArcelorMittal SA has an average rating of “Hold” and an average price target of $4.99.
The firm’s market cap is $10.08 billion. The firm has a 50 day moving average price of $4.97 and a 200-day moving average price of $4.53.
ArcelorMittal SA (NYSE:MT) last issued its earnings results on Friday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.20) by $0.03. The company earned $13.40 billion during the quarter, compared to analyst estimates of $14.25 billion. The company’s revenue for the quarter was down 21.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.41) earnings per share. On average, equities research analysts predict that ArcelorMittal SA will post $0.11 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in ArcelorMittal SA stock. Morgan Stanley boosted its stake in ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,505,451 shares of the company’s stock after buying an additional 695,850 shares during the period. Morgan Stanley owned 0.47% of ArcelorMittal SA worth $35,893,000 at the end of the most recent quarter.
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company is an integrated steel and mining company. ArcelorMittal operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. The NAFTA segment produces flat, long and tubular products.
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