ArcelorMittal SA (MT) Shares Gap Up to $6.28
Shares of ArcelorMittal SA (NYSE:MT) gapped up before the market opened on Tuesday . The stock had previously closed at $6.17, but opened at $6.28. ArcelorMittal SA shares last traded at $6.48, with a volume of 10,569,076 shares.
A number of analysts have weighed in on MT shares. Jefferies Group set a €6.25 ($7.02) price objective on shares of ArcelorMittal SA and gave the stock a “buy” rating in a report on Wednesday, April 20th. Vetr cut shares of ArcelorMittal SA from a “strong-buy” rating to a “buy” rating and set a $5.70 target price on the stock. in a report on Monday, July 11th. Barclays PLC set a €4.50 ($5.06) target price on shares of ArcelorMittal SA and gave the company a “neutral” rating in a report on Tuesday, May 10th. Goldman Sachs Group Inc. cut shares of ArcelorMittal SA from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, June 28th. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of ArcelorMittal SA in a report on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $5.19.
The company’s market capitalization is $19.91 billion. The company’s 50-day moving average price is $5.75 and its 200-day moving average price is $4.94.
ArcelorMittal SA (NYSE:MT) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.35. The business had revenue of $14.74 billion for the quarter, compared to analyst estimates of $15.23 billion. During the same period last year, the business posted $0.10 earnings per share. ArcelorMittal SA’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, 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 stake in shares of ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, according to its most recent disclosure with the 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 as of its most recent SEC filing.
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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