The stock of ArcelorMittal SA (ADR) (NYSE:MT) is a huge mover today! About 4.46M shares traded hands. ArcelorMittal SA (ADR) (NYSE:MT) has risen 23.92% since March 10, 2016 and is uptrending. It has outperformed by 16.40% the S&P500.
The move comes after 8 months negative chart setup for the $19.03B company. It was reported on Oct, 13 by Barchart.com. We have $5.62 PT which if reached, will make NYSE:MT worth $1.52 billion less.
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. Arcelormittal has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Friday, December 18 by RBC Capital Markets. JP Morgan initiated the shares of MT in a report on Thursday, August 27 with “Neutral” rating. The firm has “Buy” rating by Jefferies given on Wednesday, April 20. Credit Suisse upgraded ArcelorMittal SA (ADR) (NYSE:MT) on Wednesday, April 13 to “Outperform” rating. The firm has “Hold” rating given on Monday, March 7 by Jefferies. The company was downgraded on Tuesday, February 9 by JP Morgan. As per Friday, October 23, the company rating was downgraded by Credit Suisse. As per Wednesday, June 1, the company rating was upgraded by Citigroup. The firm earned “Overweight” rating on Thursday, March 10 by Morgan Stanley. The firm has “Hold” rating given on Tuesday, February 9 by ING Group.
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 news for ArcelorMittal SA (ADR) (NYSE:MT) were recently published by: Investorplace.com, which released: “Bull of the Day: ArcelorMittal SA (ADR) (MT)” on August 02, 2016. Schaeffersresearch.com‘s article titled: “Buzz Stocks: Honeywell International Inc., ArcelorMittal SA (ADR), and Silicon …” and published on October 07, 2016 is yet another important article.
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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