ArcelorMittal SA (NYSE:MT)’s share price dropped 2.4% during trading on Tuesday . The stock traded as low as $6.03 and last traded at $6.04, with a volume of 9,798,870 shares trading hands. The stock had previously closed at $6.19.

MT has been the subject of several recent analyst reports. Berenberg Bank set a €4.70 ($5.28) price objective on shares of ArcelorMittal SA and gave the company a “buy” rating in a research note on Friday, May 6th. Commerzbank AG set a €5.00 ($5.62) 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 ($5.06) price objective on shares of ArcelorMittal SA and gave the company a “neutral” rating in a research note on Tuesday, May 10th. Independent Research GmbH set a €4.50 ($5.06) price target on shares of ArcelorMittal SA and gave the stock a “neutral” rating in a research note on Wednesday, May 11th. Finally, Nord/LB set a €4.00 ($4.49) price target on shares of ArcelorMittal SA and gave the stock a “neutral” rating in a research note on Thursday, May 19th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $5.24.

The firm has a 50 day moving average price of $6.09 and a 200-day moving average price of $5.13. The firm’s market cap is $18.22 billion.

ArcelorMittal SA (NYSE:MT) last posted its earnings results 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. During the same period last year, the business posted $0.10 earnings per share. The business earned $14.74 billion during the quarter, compared to analysts’ expectations of $15.23 billion. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, analysts anticipate that ArcelorMittal SA will post $0.45 earnings per share for the current fiscal year.

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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