Today’s Stock On Watch: Time to Buy ArcelorMittal SA (ADR) After Today’s Significant Increase?

Today's Stock On Watch: Time to Buy ArcelorMittal SA (ADR) After Today's Significant Increase?

The stock of ArcelorMittal SA (ADR) (NYSE:MT) is a huge mover today! About 2.73M shares traded hands. ArcelorMittal SA (ADR) (NYSE:MT) has risen 26.39% since March 4, 2016 and is uptrending. It has outperformed by 18.35% the S&P500.
The move comes after 6 months positive chart setup for the $19.64 billion company. It was reported on Oct, 7 by We have $7.67 PT which if reached, will make NYSE:MT worth $4.12 billion more.

Analysts await ArcelorMittal SA (ADR) (NYSE:MT) to report earnings on November, 4.

ArcelorMittal SA (ADR) (NYSE:MT) Ratings Coverage

Out of 12 analysts covering Arcelormittal (NYSE:MT), 7 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 58% are positive. $13 is the highest target while $3 is the lowest. The $5.08 average target is -19.87% below today’s ($6.34) stock price. Arcelormittal has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was upgraded by ABN Amro to “Buy” on Wednesday, August 5. Morgan Stanley initiated the shares of MT in a report on Thursday, March 10 with “Overweight” rating. Cowen & Co downgraded ArcelorMittal SA (ADR) (NYSE:MT) rating on Tuesday, February 23. Cowen & Co has “Market Perform” rating and $4 price target. The company was downgraded on Wednesday, January 13 by Jefferies. On Friday, October 9 the stock rating was upgraded by JP Morgan to “Overweight”. Jefferies upgraded the shares of MT in a report on Wednesday, April 20 to “Buy” rating. Jefferies upgraded ArcelorMittal SA (ADR) (NYSE:MT) rating on Monday, March 7. Jefferies has “Hold” rating and $4.50 price target. RBC Capital Markets downgraded ArcelorMittal SA (ADR) (NYSE:MT) on Friday, December 18 to “Sector Perform” rating. Citigroup downgraded the shares of MT in a report on Wednesday, December 2 to “Neutral” rating. As per Monday, December 7, the company rating was downgraded by HSBC.

According to Zacks Investment Research, “ArcelorMittal (MT) is the world’s leading steel and mining company. With a presence in more than 60 countries, it operates a balanced portfolio of cost competitive steel plants across both the developed and developing world. It is the leader in all the main sectors automotive, household appliances, packaging and construction. The company is also the world’s fourth largest producer of iron ore, with a global portfolio of 16 operating units with mines in operation or development.”

More recent ArcelorMittal SA (ADR) (NYSE:MT) news were published by: which released: “Bull of the Day: ArcelorMittal SA (ADR) (MT)” on August 02, 2016. Also published the news titled: “ArcelorMittal SA (ADR) Stock Weighted Down by Capital-Raising Plans” on February 05, 2016.‘s news article titled: “ArcelorMittal SA (ADR) (MT): Poorer 1Q Results, Is the Company Heading Towards …” with publication date: May 06, 2016 was also an interesting one.

MT Company Profile

ArcelorMittal S.A. (ArcelorMittal), incorporated on June 21, 2001, is a holding company. The Firm is an integrated steel and mining company. ArcelorMittal operates through five divisions: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. It produces a range of finished and semi-finished steel products (semis). ArcelorMittal produces flat steel products, including sheet and plate, and long steel products, including bars, rods and structural shapes. In addition, ArcelorMittal produces pipes and tubes for various applications.

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