ArcelorMittal S.A. (NYSE:MT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Posted by on Jun 8th, 2023

ArcelorMittal S.A. (NYSE:MT – Get Rating) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $31.33.

Several equities research analysts have recently issued reports on MT shares. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating in a research report on Thursday, March 23rd. Barclays cut shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 3rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of ArcelorMittal from $36.00 to $33.00 in a research report on Thursday, February 23rd. UBS Group raised shares of ArcelorMittal from a “sell” rating to a “buy” rating in a research report on Tuesday, March 28th. Finally, StockNews.com initiated coverage on shares of ArcelorMittal in a report on Thursday, May 18th. They issued a “buy” rating on the stock.

Hedge Funds Weigh In On ArcelorMittal

A number of large investors have recently modified their holdings of the company. Financial Management Professionals Inc. bought a new stake in shares of ArcelorMittal during the 1st quarter valued at $30,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of ArcelorMittal during the 4th quarter valued at approximately $34,000. Captrust Financial Advisors grew its stake in shares of ArcelorMittal by 166.1% during the 1st quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 862 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of ArcelorMittal during the 3rd quarter valued at approximately $28,000. Finally, Clear Street Markets LLC bought a new position in ArcelorMittal in the 4th quarter worth approximately $40,000. 5.40% of the stock is currently owned by institutional investors.

ArcelorMittal Trading Up 0.2 %

MT opened at $26.82 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.57 and a quick ratio of 0.70. The company has a market cap of $21.60 billion, a price-to-earnings ratio of 3.88 and a beta of 1.91. The firm has a 50 day simple moving average of $27.60 and a 200 day simple moving average of $28.31. ArcelorMittal has a fifty-two week low of $19.25 and a fifty-two week high of $32.49.

About ArcelorMittal

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ArcelorMittal SA is a holding company, which engages in steelmaking and mining activities. It operates through the following business segments: NAFTA; Brazil; Europe; Africa and Commonwealth of Independent States (ACIS), Mining, and Others. The NAFTA segment consists of flat products such as slabs, hot-rolled coil, cold-rolled coil, coated steel, and plate.

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Analyst Recommendations for ArcelorMittal (NYSE:MT)

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