The stock of ArcelorMittal SA (ADR) (NYSE:MT) is a huge mover today! About 53.58 million shares traded hands or 261.54% up from the average. ArcelorMittal SA (ADR) (NYSE:MT) has risen 47.94% since April 6, 2016 and is uptrending. It has outperformed by 45.98% the S&P500.
The move comes after 9 months negative chart setup for the $20.53 billion company. It was reported on Nov, 8 by Barchart.com. We have $5.90 PT which if reached, will make NYSE:MT worth $1.64 billion less.
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. JP Morgan upgraded the stock to “Overweight” rating in Friday, October 9 report. Goldman Sachs upgraded ArcelorMittal SA (ADR) (NYSE:MT) on Tuesday, April 12 to “Buy” rating. The firm has “Overweight” rating given on Thursday, March 10 by Morgan Stanley. On Tuesday, February 9 the stock rating was downgraded by ING Group to “Hold”. On Friday, August 19 the stock rating was upgraded by JP Morgan to “Neutral”. The stock has “Underperform” rating given by Jefferies on Wednesday, January 13. JP Morgan initiated the shares of MT in a report on Thursday, August 27 with “Neutral” rating. The firm has “Hold” rating given on Monday, December 7 by HSBC. The stock of ArcelorMittal SA (ADR) (NYSE:MT) has “Sector Perform” rating given on Friday, December 18 by RBC Capital Markets. The stock of ArcelorMittal SA (ADR) (NYSE:MT) earned “Buy” rating by Berenberg on Thursday, March 31.
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 important recent ArcelorMittal SA (ADR) (NYSE:MT) news were published by: Investorplace.com which released: “Bull of the Day: ArcelorMittal SA (ADR) (MT)” on August 02, 2016, also Schaeffersresearch.com published article titled: “Analyst Downgrades: ArcelorMittal SA, Hertz Global Holdings, Inc, and …”, Businessfinancenews.com published: “ArcelorMittal SA (ADR) (MT): Poorer 1Q Results, Is the Company Heading Towards …” on May 06, 2016. More interesting news about ArcelorMittal SA (ADR) (NYSE:MT) was released by: Schaeffersresearch.com and their article: “Buzz Stocks: Honeywell International Inc., ArcelorMittal SA (ADR), and Silicon …” with publication date: October 07, 2016.
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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