Wells Fargo & Company Issues Positive Forecast for ArcelorMittal (NYSE:MT) Stock Price

ArcelorMittal (NYSE:MT) had its target price raised by equities research analysts at Wells Fargo & Company from $62.00 to $69.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 2.08% from the stock’s current price.

A number of other analysts have also recently issued reports on MT. JPMorgan Chase & Co. upgraded ArcelorMittal from an “underweight” rating to a “neutral” rating in a report on Friday, July 10th. Jefferies Financial Group restated a “buy” rating on shares of ArcelorMittal in a report on Monday, July 6th. Santander cut shares of ArcelorMittal from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 21st. Citigroup reiterated a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of ArcelorMittal in a research note on Friday. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.73.

ArcelorMittal Trading Up 1.6%

MT stock traded up $1.12 during trading on Friday, reaching $70.47. 470,693 shares of the stock traded hands, compared to its average volume of 1,898,938. The business’s 50 day moving average price is $65.95 and its 200-day moving average price is $60.56. ArcelorMittal has a 52-week low of $30.17 and a 52-week high of $72.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.39 and a quick ratio of 0.54. The firm has a market capitalization of $54.61 billion, a PE ratio of 18.43, a P/E/G ratio of 0.50 and a beta of 1.55.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. The company had revenue of $15.46 billion during the quarter, compared to analyst estimates of $17.04 billion. ArcelorMittal had a return on equity of 4.77% and a net margin of 4.71%.The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, sell-side analysts forecast that ArcelorMittal will post 4.89 earnings per share for the current year.

Institutional Trading of ArcelorMittal

A number of hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of ArcelorMittal during the fourth quarter worth $44,000. Geneos Wealth Management Inc. grew its holdings in ArcelorMittal by 44.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 501 shares in the last quarter. Allworth Financial LP increased its stake in ArcelorMittal by 91.5% during the 4th quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock worth $51,000 after buying an additional 538 shares during the period. CIBC Private Wealth Group LLC increased its stake in ArcelorMittal by 126.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,146 shares of the basic materials company’s stock worth $52,000 after buying an additional 640 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in ArcelorMittal by 268.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,422 shares of the basic materials company’s stock worth $76,000 after buying an additional 1,765 shares during the period. Hedge funds and other institutional investors own 9.29% of the company’s stock.

More ArcelorMittal News

Here are the key news stories impacting ArcelorMittal this week:

• Positive Sentiment: Management said supportive European trade measures aimed at curbing steel imports should improve the region’s outlook. ArcelorMittal expects second-half European sales to outperform the first half, potentially supporting volumes and pricing. ArcelorMittal says steps to curb imports will boost European business
• Positive Sentiment: AM/NS India, ArcelorMittal’s Indian joint venture, reported a 28.5% increase in June-quarter EBITDA as higher steel prices helped offset broader market challenges. AM/NS India June-quarter EBITDA rises
• Neutral Sentiment: Second-quarter revenue increased approximately 5% year over year to $16.76 billion, but remained below the $17.07 billion analyst consensus. The company’s earnings call emphasized regional differences, trade policy and the outlook for steel demand. ArcelorMittal reports second-quarter 2026 results
• Negative Sentiment: Net income fell 62% to $683 million, while reported EPS declined to $0.90 from $1.32 a year earlier and missed the $1.18 consensus estimate. The earnings shortfall and lower profitability are the main reasons investors are reacting negatively. ArcelorMittal reports 62% drop in Q2 net income

About ArcelorMittal

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.