Deutsche Bank Downgrades Arrium to Sell (ARI)
Arrium (ASX:ARI) traded down 1.82% during mid-day trading on Tuesday, hitting A$0.810. 6,895,494 shares of the company’s stock traded hands. Arrium has a one year low of A$0.710 and a one year high of A$1.875. The stock’s 50-day moving average is A$0.94 and its 200-day moving average is A$1.36. The company’s market cap is A$1.099 billion.
Separately, analysts at JPMorgan Chase & Co. upgraded shares of Arrium to a “neutral” rating in a research note on Tuesday, April 1st.
Arrium Limited is an international mining and materials company. The Company’s principal activities are mining and supply of iron ore and other steelmaking raw materials to steel mills internationally and in Australia; the manufacture and supply of mining consumables products globally; the manufacture and distribution of steel long products and recycling of ferrous and non-ferrous scrap metal.
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