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 report issued to clients and investors on Friday, The Fly reports.
A number of other research firms also recently issued reports on MT. Credit Suisse Group AG set a $10.00 price objective on shares of ArcelorMittal SA and gave the stock a “buy” rating in a report on Saturday, October 1st. Cowen and Company lifted their price objective on shares of ArcelorMittal SA from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 3rd. Citigroup Inc. reaffirmed a “buy” rating on shares of ArcelorMittal SA in a report on Friday, October 7th. Vetr upgraded shares of ArcelorMittal SA from a “buy” rating to a “strong-buy” rating and set a $6.78 target price on the stock in a research report on Tuesday, September 13th. Finally, Jefferies Group reiterated a “buy” rating on shares of ArcelorMittal SA in a research report on Friday, September 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $5.58.
Shares of ArcelorMittal SA (NYSE:MT) opened at 7.56 on Friday. The firm’s 50-day moving average is $6.70 and its 200-day moving average is $5.83. ArcelorMittal SA has a 12 month low of $2.93 and a 12 month high of $7.69. The company’s market cap is $23.13 billion.
ArcelorMittal SA (NYSE:MT) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. ArcelorMittal SA had a negative net margin of 9.37% and a positive return on equity of 4.14%. The company earned $14.52 billion during the quarter, compared to the consensus estimate of $15.59 million. During the same period in the previous year, the firm posted ($0.09) EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts predict that ArcelorMittal SA will post $0.44 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MT. Jane Street Group LLC boosted its position in 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 during the last quarter. OLD Mission Capital LLC boosted its position in ArcelorMittal SA by 107.8% in the third quarter. OLD Mission Capital LLC now owns 165,820 shares of the company’s stock valued at $1,101,000 after buying an additional 86,012 shares during the last quarter. Two Sigma Securities LLC bought a new position in ArcelorMittal SA during the third quarter valued at $584,000. AMP Capital Investors Ltd bought a new position in ArcelorMittal SA during the third quarter valued at $1,306,000. Finally, Profund Advisors LLC boosted its position in ArcelorMittal SA by 9.0% in the third quarter. Profund Advisors LLC now owns 75,810 shares of the company’s stock valued at $458,000 after buying an additional 6,270 shares during the last quarter. 3.86% of the stock is owned by hedge funds and other institutional investors.
ArcelorMittal SA Company Profile
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.