ArcelorMittal SA (MT) Short Interest Up 9.5% in September
ArcelorMittal SA (NYSE:MT) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 44,704,705 shares, an increase of 9.5% from the September 15th total of 40,827,768 shares. Based on an average daily trading volume, of 18,409,666 shares, the short-interest ratio is currently 2.4 days.
Several research firms have issued reports on MT. Credit Suisse Group AG set a $10.00 price objective on shares of ArcelorMittal SA and gave the company a “buy” rating in a research report on Saturday, October 1st. Vetr cut shares of ArcelorMittal SA from a “buy” rating to a “hold” rating and set a $5.70 price objective for the company. in a research report on Monday, July 25th. Jefferies Group reaffirmed a “buy” rating on shares of ArcelorMittal SA in a research report on Wednesday, August 3rd. TheStreet raised shares of ArcelorMittal SA from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Clarkson Capital raised shares of ArcelorMittal SA from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $5.40.
Shares of ArcelorMittal SA (NYSE:MT) opened at 6.21 on Monday. ArcelorMittal SA has a 1-year low of $2.93 and a 1-year high of $6.59. The firm’s market cap is $18.99 billion. The stock has a 50 day moving average of $6.00 and a 200-day moving average of $5.52.
ArcelorMittal SA (NYSE:MT) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.35. ArcelorMittal SA had a negative net margin of 11.61% and a positive return on equity of 0.62%. The company earned $14.74 billion during the quarter, compared to the consensus estimate of $15.23 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. Equities analysts anticipate that ArcelorMittal SA will post ($0.05) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of MT. Loomis Sayles & Co. L P purchased a new position in shares of ArcelorMittal SA during the first quarter worth about $78,715,000. Anchor Bolt Capital LP purchased a new position in shares of ArcelorMittal SA during the second quarter worth about $35,108,000. Allianz Asset Management AG increased its position in shares of ArcelorMittal SA by 68.1% in the second quarter. Allianz Asset Management AG now owns 18,054,973 shares of the company’s stock worth $84,136,000 after buying an additional 7,316,803 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of ArcelorMittal SA by 700.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 8,000,000 shares of the company’s stock worth $36,640,000 after buying an additional 7,000,000 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of ArcelorMittal SA by 88.0% in the first quarter. Renaissance Technologies LLC now owns 5,567,420 shares of the company’s stock worth $25,495,000 after buying an additional 2,606,411 shares in the last quarter. Institutional investors own 3.88% of the company’s stock.
About ArcelorMittal SA
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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