ArcelorMittal (MT) Shares Gap Up to $30.64
ArcelorMittal SA (NYSE:MT)’s share price gapped up prior to trading on Monday . The stock had previously closed at $29.85, but opened at $30.64. ArcelorMittal shares last traded at $31.65, with a volume of 2684724 shares changing hands.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of ArcelorMittal from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 25th. UBS reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Thursday, October 26th. Cowen lifted their target price on shares of ArcelorMittal from $27.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, November 13th. TheStreet cut shares of ArcelorMittal from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Finally, ValuEngine cut shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $33.55.
The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.44 and a current ratio of 1.21. The firm has a market cap of $31,210.15, a P/E ratio of 7.70, a PEG ratio of 0.70 and a beta of 2.20.
Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC increased its stake in ArcelorMittal by 24.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock valued at $157,000 after buying an additional 1,479 shares during the period. Rathbone Brothers plc acquired a new position in ArcelorMittal in the 3rd quarter valued at $202,000. Campbell & CO Investment Adviser LLC acquired a new position in ArcelorMittal in the 3rd quarter valued at $228,000. SG Americas Securities LLC acquired a new position in ArcelorMittal in the 3rd quarter valued at $229,000. Finally, Sawtooth Solutions LLC acquired a new position in ArcelorMittal in the 2nd quarter valued at $206,000. 4.09% of the stock is currently owned by institutional investors.
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ArcelorMittal Company Profile
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
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