ArcelorMittal (NYSE:MT) shares were up 1.3% during trading on Monday . The stock traded as high as $29.45 and last traded at $28.98. Approximately 2,923,308 shares changed hands during trading, a decline of 39% from the average daily volume of 4,797,460 shares. The stock had previously closed at $29.35.

Several research analysts have recently commented on MT shares. BidaskClub upgraded ArcelorMittal from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Jefferies Group LLC reissued a “buy” rating on shares of ArcelorMittal in a research report on Friday, June 30th. Zacks Investment Research raised ArcelorMittal from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Tuesday, July 11th. Deutsche Bank AG raised ArcelorMittal from a “hold” rating to a “buy” rating and raised their price objective for the stock from $25.00 to $32.00 in a research report on Wednesday, July 12th. Finally, ING Group raised ArcelorMittal from a “hold” rating to a “buy” rating in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. ArcelorMittal currently has an average rating of “Buy” and a consensus target price of $30.77.

The firm’s 50-day moving average is $26.59 and its 200-day moving average is $24.35. The stock has a market capitalization of $29.44 billion, a P/E ratio of 9.08 and a beta of 2.10.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.55. ArcelorMittal had a return on equity of 10.52% and a net margin of 5.50%. The firm had revenue of $17.24 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same period in the prior year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, analysts anticipate that ArcelorMittal will post $3.27 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC purchased a new position in shares of ArcelorMittal in the 2nd quarter worth about $111,000. Jacobi Capital Management LLC purchased a new position in shares of ArcelorMittal in the 1st quarter worth about $127,000. US Bancorp DE raised its holdings in shares of ArcelorMittal by 14.2% in the 1st quarter. US Bancorp DE now owns 15,540 shares of the basic materials company’s stock worth $129,000 after purchasing an additional 1,934 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of ArcelorMittal by 24.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock worth $157,000 after purchasing an additional 1,479 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in shares of ArcelorMittal in the 1st quarter worth about $196,000. Institutional investors own 3.60% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was originally posted by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://www.watchlistnews.com/arcelormittal-mt-trading-up-1-3/1637859.html.

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.

Receive News & Ratings for ArcelorMittal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal and related companies with Analyst Ratings Network's FREE daily email newsletter.