ArcelorMittal SA (MT) Sees Large Volume Increase
Shares of ArcelorMittal SA (NYSE:MT) saw strong trading volume on Thursday . 19,416,086 shares traded hands during mid-day trading, an increase of 16% from the previous session’s volume of 16,758,230 shares.The stock last traded at $6.38 and had previously closed at $6.29.
Several equities research analysts recently commented on the stock. Clarkson Capital raised shares of ArcelorMittal SA from a “neutral” rating to a “buy” rating in a research report on Tuesday. Cowen and Company boosted their price objective on shares of ArcelorMittal SA from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday, August 3rd. 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, Citigroup Inc. reaffirmed a “buy” rating on shares of ArcelorMittal SA in a research report on Thursday, July 28th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $5.18.
The company’s market capitalization is $18.41 billion. The company’s 50-day moving average is $5.59 and its 200 day moving average is $4.88.
ArcelorMittal SA (NYSE:MT) last posted its earnings results on Friday, July 29th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.35. The business earned $14.74 billion during the quarter, compared to analysts’ expectations of $15.23 billion. During the same quarter in the previous year, the business earned $0.10 EPS. ArcelorMittal SA’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, analysts expect 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 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 about 0.47% of ArcelorMittal SA worth $35,893,000 at the end of the most recent reporting period.
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.