Notable Runner: What’s Ahead for ArcelorMittal SA (ADR) After Today’s Big Increase?

Notable Runner: What's Ahead for ArcelorMittal SA (ADR) After Today's Big Increase?

The stock of ArcelorMittal SA (ADR) (NYSE:MT) is a huge mover today! About 17.89M shares traded hands or 1.94% up from the average. ArcelorMittal SA (ADR) (NYSE:MT) has risen 17.28% since April 20, 2016 and is uptrending. It has outperformed by 12.72% the S&P500.
The move comes after 8 months positive chart setup for the $23.48B company. It was reported on Nov, 22 by Barchart.com. We have $8.10 PT which if reached, will make NYSE:MT worth $1.41 billion more.

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

Out of 13 analysts covering Arcelormittal (NYSE:MT), 7 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 54% are positive. Arcelormittal has been the topic of 31 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Citigroup upgraded the stock to “Buy” rating in Monday, October 5 report. Jefferies upgraded ArcelorMittal SA (ADR) (NYSE:MT) on Monday, March 7 to “Hold” rating. The stock of ArcelorMittal SA (ADR) (NYSE:MT) has “Hold” rating given on Monday, December 7 by HSBC. The firm has “Underperform” rating given on Wednesday, January 13 by Jefferies. JP Morgan initiated the shares of MT in a report on Thursday, August 27 with “Neutral” rating. The rating was upgraded by Goldman Sachs on Tuesday, April 12 to “Buy”. The rating was downgraded by Citigroup on Wednesday, December 2 to “Neutral”. The firm has “Overweight” rating given on Friday, October 9 by JP Morgan. The rating was upgraded by Citigroup to “Buy” on Wednesday, June 1. The stock of ArcelorMittal SA (ADR) (NYSE:MT) earned “Neutral” rating by Credit Suisse on Friday, October 23.

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. Fool.com‘s article titled: “ArcelorMittal SA (ADR) Stock Weighted Down by Capital-Raising Plans” and published on February 05, 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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