ArcelorMittal SA (MT) Shares Up 4.8%
ArcelorMittal SA (NYSE:MT) shot up 4.8% on Monday . The stock traded as high as $6.32 and last traded at $6.31, with a volume of 7,691,434 shares traded. The stock had previously closed at $6.02.
Several research firms have weighed in on MT. Clarkson Capital upgraded shares of ArcelorMittal SA from a “neutral” rating to a “buy” rating in a report on Tuesday, August 9th. TheStreet raised shares of ArcelorMittal SA from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Vetr reissued a “hold” rating and set a $5.90 price objective on shares of ArcelorMittal SA in a research report on Monday. Jefferies Group reissued a “buy” rating on shares of ArcelorMittal SA in a research report on Wednesday, August 3rd. Finally, Cowen and Company increased their price objective on shares of ArcelorMittal SA from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.19.
The company’s 50-day moving average is $5.70 and its 200 day moving average is $4.93. The stock’s market capitalization is $19.57 billion.
ArcelorMittal SA (NYSE:MT) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.35. The company had revenue of $14.74 billion for the quarter, compared to the consensus estimate of $15.23 billion. ArcelorMittal SA’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. On average, equities analysts predict that ArcelorMittal SA will post $0.45 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in ArcelorMittal SA stock. Morgan Stanley increased 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 Securities and Exchange Commission (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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