Trade Report: Today, ArcelorMittal SA (MT) Raised to “Outperform” at RBC Capital Markets

Today, ArcelorMittal SA (MT) Raised to “Outperform” at RBC Capital Markets

ArcelorMittal SA (NYSE:MT) was upgraded by stock analysts at RBC Capital Markets from a “sector perform” rating to an “outperform” rating in a research note issued on Friday, The Fly reports.

A number of other equities analysts have also issued reports on the company. Royal Bank Of Canada raised ArcelorMittal SA from a “sector perform” rating to an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. reissued a “neutral” rating on shares of ArcelorMittal SA in a research report on Thursday, November 17th. Zacks Investment Research raised ArcelorMittal SA from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Wednesday, November 16th. Citigroup Inc. reissued a “buy” rating on shares of ArcelorMittal SA in a research report on Tuesday, November 15th. Finally, Credit Suisse Group AG set a $10.00 price target on ArcelorMittal SA and gave the company a “buy” rating in a research report on Wednesday, November 9th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.58.

Shares of ArcelorMittal SA (NYSE:MT) opened at 7.56 on Friday. ArcelorMittal SA has a 12 month low of $2.93 and a 12 month high of $7.69. The stock’s market capitalization is $23.13 billion. The firm’s 50 day moving average is $6.70 and its 200 day moving average is $5.83.

ArcelorMittal SA (NYSE:MT) last announced its earnings results on Tuesday, November 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.04. ArcelorMittal SA had a positive return on equity of 4.14% and a negative net margin of 9.37%. The company had revenue of $14.52 billion for the quarter, compared to analyst estimates of $15.59 million. During the same period in the prior year, the company posted ($0.09) EPS. ArcelorMittal SA’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts predict that ArcelorMittal SA will post $0.44 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Anchor Bolt Capital LP acquired a new stake in shares of ArcelorMittal SA during the second quarter valued at about $35,108,000. Allianz Asset Management AG increased its stake 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 valued at $84,136,000 after buying an additional 7,316,803 shares in the last quarter. Jane Street Group LLC increased its stake in shares of ArcelorMittal SA by 2,925.5% in the third quarter. Jane Street Group LLC now owns 2,492,979 shares of the company’s stock valued at $15,058,000 after buying an additional 2,410,579 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of ArcelorMittal SA by 73.1% in the third quarter. JPMorgan Chase & Co. now owns 5,607,239 shares of the company’s stock valued at $33,868,000 after buying an additional 2,368,359 shares in the last quarter. Finally, Credit Suisse AG increased its stake in shares of ArcelorMittal SA by 607.1% in the second quarter. Credit Suisse AG now owns 2,680,406 shares of the company’s stock valued at $12,490,000 after buying an additional 2,301,343 shares in the last quarter. 3.86% of the stock is owned by hedge funds and other institutional investors.

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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