ArcelorMittal SA (MT) Sees Strong Trading Volume
Shares of ArcelorMittal SA (NYSE:MT) saw unusually-strong trading volume on Tuesday . Approximately 24,554,583 shares were traded during 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.
MT has been the subject of several research reports. Berenberg Bank upgraded shares of ArcelorMittal SA from a “hold” rating to a “buy” rating in a report on Thursday, March 31st. Morgan Stanley set a €4.40 ($4.84) price objective on shares of ArcelorMittal SA and gave the stock a “buy” rating in a report on Tuesday, March 29th. Goldman Sachs Group Inc. set a €5.40 ($5.93) price objective on shares of ArcelorMittal SA and gave the stock a “buy” rating in a report on Tuesday, April 12th. Jefferies Group set a €6.25 ($6.87) price objective on shares of ArcelorMittal SA and gave the stock a “buy” rating in a report on Wednesday, April 20th. Finally, Zacks Investment Research upgraded shares of ArcelorMittal SA from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Monday, April 25th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. ArcelorMittal SA presently has an average rating of “Hold” and a consensus target price of $4.99.
The stock’s market cap is $10.22 billion. The company has a 50 day moving average price of $5.01 and a 200-day moving average price of $4.54.
ArcelorMittal SA (NYSE:MT) last issued its quarterly earnings results on Friday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.03. During the same quarter last year, the firm earned ($0.41) EPS. The firm earned $13.40 billion during the quarter, compared to analyst estimates of $14.25 billion. The business’s revenue was down 21.7% on a year-over-year basis. On average, equities analysts forecast that ArcelorMittal SA will post $0.11 earnings per share for the current year.
A hedge fund recently raised its stake in ArcelorMittal SA stock. Morgan Stanley raised its position 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 firm owned 8,505,451 shares of the company’s stock after buying an additional 695,850 shares during the period. Morgan Stanley owned about 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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