ArcelorMittal (NYSE:MT) has tumbled 3.97% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 15.46% in the last four weeks. The stocks have underperformed the S&P 500 by 2.82% during the past week but ArcelorMittal (NYSE:MT) it has outperformed the index in 4 weeks by 14.4%.
ArcelorMittal (NYSE:MT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.15 and $5.07 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.28. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.08, notching a gain of 1.20% for the day. The total traded volume was 21,430,418 . The stock had closed at $5.02 on the previous day.
The company shares have dropped -51.20% from its 1 Year high price. On Jun 24, 2015, the shares registered one year high at $10.70 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $5.01 and the 200 Day Moving Average price is recorded at $4.44.
Many analysts have stated their opinion on the company shares. In a research note released to the investors, Citigroup upgrades its rating on ArcelorMittal (NYSE:MT).The analysts at the brokerage house have a current rating of Buy on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. In a recent information released to the investors, Citigroup raises the new price target from $5 per share to $5.4 per share. The rating by the firm was issued on June 1, 2016. Currently the company Insiders own 0.06% of ArcelorMittal shares according to the proxy statements. Institutional Investors own 7.74% of ArcelorMittal shares.
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company is a steel and mining company, which operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. The Company produces a range of finished and semi-finished steel products. Specifically, it produces flat steel products, including sheet and plate, and long steel products, including bars, rods and structural shapes. In addition, the Company produces pipes and tubes for various applications. The Company also produces various types of mining products, including iron ore lump, fines, concentrate and sinter feed, as well as coking, pulverized coal injection (PCI) and thermal coal. The Companys subsidiaries include ArcelorMittal Dofasco Inc., ArcelorMittal Montreal Inc., ArcelorMittal Point Lisas Ltd., ArcelorMittal Belgium N.V. and ArcelorMittal South Africa Ltd., among others.