ArcelorMittal SA (NYSE:MT) was upgraded by investment analysts at Macquarie from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday, The Fly reports.

MT has been the subject of a number of other reports. Goldman Sachs Group Inc reiterated a “buy” rating on shares of ArcelorMittal SA in a report on Friday, February 17th. Cowen and Company upgraded ArcelorMittal SA from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $30.00 to $33.00 in a research note on Thursday, March 23rd. They noted that the move was a valuation call. Bank of America Corp upgraded ArcelorMittal SA from a “neutral” rating to a “buy” rating in a research note on Friday, February 10th. Zacks Investment Research upgraded ArcelorMittal SA from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, March 22nd. Finally, JPMorgan Chase & Co. upgraded ArcelorMittal SA from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $25.20 to $25.32 in a research note on Friday, March 31st. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $25.31.

Analyst Recommendations for ArcelorMittal SA (NYSE:MT)

ArcelorMittal SA (NYSE:MT) traded down 1.861% during trading on Thursday, hitting $21.885. 7,182,219 shares of the stock traded hands. ArcelorMittal SA has a 12 month low of $12.54 and a 12 month high of $28.11. The firm’s 50-day moving average is $23.08 and its 200-day moving average is $23.98. The stock has a market cap of $22.32 billion, a P/E ratio of 7.256 and a beta of 2.06.

ArcelorMittal SA (NYSE:MT) last issued its quarterly earnings results on Friday, May 12th. The basic materials company reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.18. ArcelorMittal SA had a return on equity of 6.88% and a net margin of 3.13%. The business had revenue of $16.09 billion during the quarter, compared to the consensus estimate of $16.81 billion. During the same period in the previous year, the business earned ($0.69) EPS. The business’s quarterly revenue was up 20.1% on a year-over-year basis. On average, analysts forecast that ArcelorMittal SA will post $0.98 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FNY Partners Fund LP raised its position in shares of ArcelorMittal SA by 32.8% in the first quarter. FNY Partners Fund LP now owns 33,209 shares of the basic materials company’s stock worth $277,000 after buying an additional 8,209 shares during the period. Credit Suisse AG raised its position in shares of ArcelorMittal SA by 2,724.4% in the first quarter. Credit Suisse AG now owns 4,540,212 shares of the basic materials company’s stock worth $37,910,000 after buying an additional 4,379,463 shares during the period. Barings LLC raised its position in shares of ArcelorMittal SA by 203.6% in the first quarter. Barings LLC now owns 244,700 shares of the basic materials company’s stock worth $2,043,000 after buying an additional 164,100 shares during the period. Jane Street Group LLC raised its position in shares of ArcelorMittal SA by 775.6% in the first quarter. Jane Street Group LLC now owns 2,127,765 shares of the basic materials company’s stock worth $17,767,000 after buying an additional 1,884,765 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in shares of ArcelorMittal SA during the first quarter worth about $244,000. Institutional investors own 3.46% of the company’s stock.

ArcelorMittal SA 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.

12 Month Chart for NYSE:MT

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