ArcelorMittal (MT) : 7 analysts are covering ArcelorMittal (MT) and their average rating on the stock is 2.14, which is read as a Buy. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 1, which recommends a Strong Buy affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
ArcelorMittal (MT) : 5 Wall Street analysts covering ArcelorMittal (MT) believe that the average level the stock could reach for the short term is $7.63. The maximum price target given is $9 and the minimum target for short term is around $6, hence the standard deviation is calculated at $1.12.
For the current week, the company shares have a recommendation consensus of Buy. ArcelorMittal (NYSE:MT): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.38 and $6.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.40. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.31, notching a gain of 0.32% for the day. The total traded volume was 24,559,511 . The stock had closed at $6.29 on the previous day.
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.