Posted by admin on Jun 22nd, 2022

ArcelorMittal S.A. (NYSE:MT – Get Rating)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $23.33 and last traded at $23.58, with a volume of 143154 shares changing hands. The stock had previously closed at $25.91.

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. downgraded ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on ArcelorMittal from €48.00 ($50.53) to €49.00 ($51.58) in a research report on Friday, May 6th. StockNews.com upgraded ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 17th. Finally, Credit Suisse Group increased their price objective on ArcelorMittal from $42.00 to $50.00 in a research report on Tuesday, February 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.82.

The stock has a fifty day moving average price of $29.87 and a 200-day moving average price of $31.15. The company has a market cap of $22.20 billion, a PE ratio of 1.48 and a beta of 1.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.55 and a quick ratio of 0.71.

ArcelorMittal (NYSE:MT – Get Rating) last released its earnings results on Thursday, May 5th. The basic materials company reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.25 by $1.02. The company had revenue of $21.84 billion during the quarter, compared to analyst estimates of $21.11 billion. ArcelorMittal had a return on equity of 32.88% and a net margin of 20.43%. On average, equities analysts anticipate that ArcelorMittal S.A. will post 13.21 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors increased its stake in shares of ArcelorMittal by 166.1% in the first quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 862 shares during the last quarter. Prospera Financial Services Inc acquired a new position in shares of ArcelorMittal in the first quarter worth $45,000. National Bank of Canada FI acquired a new position in ArcelorMittal during the fourth quarter worth $46,000. Bessemer Group Inc. increased its position in ArcelorMittal by 42.8% during the fourth quarter. Bessemer Group Inc. now owns 2,026 shares of the basic materials company’s stock worth $64,000 after buying an additional 607 shares during the last quarter. Finally, Elequin Capital LP acquired a new position in ArcelorMittal during the first quarter worth $79,000. 41.79% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Company Profile (NYSE:MT)

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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