ArcelorMittal SA (MT) Sees Unusually-High Trading Volume
ArcelorMittal SA (NYSE:MT) shares saw an uptick in trading volume on Thursday . 19,416,086 shares changed hands during trading, an increase of 16% from the previous session’s volume of 16,758,230 shares.The stock last traded at $6.38 and had previously closed at $6.29.
A number of research firms recently commented on MT. Berenberg Bank reiterated a “buy” rating on shares of ArcelorMittal SA in a research note on Sunday, May 29th. JPMorgan Chase & Co. set a €4.30 ($4.78) price objective on shares of ArcelorMittal SA and gave the company a “sell” rating in a research note on Monday, April 18th. Commerzbank AG set a €5.00 ($5.56) price objective on shares of ArcelorMittal SA and gave the company a “neutral” rating in a research note on Friday, May 6th. Barclays PLC set a €4.50 ($5.00) price objective on shares of ArcelorMittal SA and gave the company a “neutral” rating in a research note on Tuesday, May 10th. Finally, Nord/LB set a €4.00 ($4.44) price objective on shares of ArcelorMittal SA and gave the company a “neutral” rating in a research note on Thursday, May 19th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $5.18.
The stock’s 50 day moving average is $5.58 and its 200-day moving average is $4.86. The firm’s market capitalization is $19.29 billion.
ArcelorMittal SA (NYSE:MT) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.35. The firm earned $14.74 billion during the quarter, compared to analyst estimates of $15.23 billion. During the same period in the prior year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, equities research analysts forecast that ArcelorMittal SA will post $0.45 earnings per share for the current year.
A hedge fund recently raised its stake in ArcelorMittal SA stock. Morgan Stanley boosted its position in shares of ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,505,451 shares of the company’s stock after buying an additional 695,850 shares during the period. Morgan Stanley owned approximately 0.47% of ArcelorMittal SA worth $35,893,000 at the end of the most recent reporting period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.