Shares of ArcelorMittal SA (NYSE:MT) dropped 5.7% during trading on Tuesday . The stock traded as low as $5.43 and last traded at $5.45, with a volume of 5,744,493 shares changing hands. The stock had previously closed at $5.78.

A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded ArcelorMittal SA from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th. Berenberg Bank set a €6.50 ($7.22) target price on ArcelorMittal SA and gave the stock a “buy” rating in a research note on Monday, April 18th. Credit Suisse Group AG upgraded ArcelorMittal SA from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $6.00 to $7.50 in a research note on Wednesday, April 13th. Vetr upgraded ArcelorMittal SA from a “buy” rating to a “strong-buy” rating and set a $5.70 target price for the company in a research note on Wednesday, June 22nd. Finally, Goldman Sachs Group Inc. lowered ArcelorMittal SA from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, June 28th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $4.99.

The stock’s market cap is $9.77 billion. The company’s 50 day moving average is $5.10 and its 200-day moving average is $4.57.

ArcelorMittal SA (NYSE:MT) last posted its quarterly earnings results on Friday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by $0.03. The company had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $14.25 billion. During the same period in the prior year, the company earned ($0.41) earnings per share. The firm’s quarterly revenue was down 21.7% compared to the same quarter last year. On average, equities research analysts forecast that ArcelorMittal SA will post $0.11 earnings per share for the current year.

An institutional investor recently raised its position in ArcelorMittal SA stock. Morgan Stanley boosted its stake in ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, according to its most recent Form 13F filing 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 approximately 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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