Posted by admin on May 17th, 2022
ArcelorMittal (NYSE:MT – Get Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.
MT has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research note on Wednesday, May 11th. Credit Suisse Group lifted their price target on shares of ArcelorMittal from $42.00 to $50.00 in a research note on Tuesday, February 22nd. The Goldman Sachs Group downgraded shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 26th. JPMorgan Chase & Co. lifted their price target on shares of ArcelorMittal from €43.00 ($44.79) to €48.00 ($50.00) in a research note on Thursday, April 28th. Finally, AlphaValue upgraded shares of ArcelorMittal to a “reduce” rating in a research note on Tuesday, February 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $42.13.
Shares of ArcelorMittal stock opened at $28.38 on Tuesday. The company’s fifty day simple moving average is $30.90 and its 200-day simple moving average is $31.27. The company has a market cap of $26.62 billion, a price-to-earnings ratio of 1.80 and a beta of 1.92. The company has a current ratio of 1.55, a quick ratio of 0.71 and a debt-to-equity ratio of 0.11. ArcelorMittal has a 1 year low of $26.36 and a 1 year high of $37.87.
Large investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. raised its holdings in ArcelorMittal by 320.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 909 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 693 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in ArcelorMittal by 82.3% during the 4th quarter. BNP Paribas Arbitrage SA now owns 1,353 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 611 shares during the last quarter. Captrust Financial Advisors raised its holdings in ArcelorMittal by 166.1% during the 1st quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 862 shares during the last quarter. Prospera Financial Services Inc acquired a new position in shares of ArcelorMittal during the 1st quarter worth about $45,000. Finally, National Bank of Canada FI acquired a new position in shares of ArcelorMittal during the 4th quarter worth about $46,000. 41.79% of the stock is owned by hedge funds and other institutional investors.
ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in Europe, North and South America, Asia, and Africa. Its principal steel products include semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, which includes blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.
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