ArcelorMittal (NYSE:MT) Receives a Downgrade
The Equity Rating of ArcelorMittal (NYSE:MT) rating was cut by research analysts at HSBC Securities from the previous “Buy” rating to a “Hold” rating in a comprehensive report released on Monday morning.
From a total of 6 analysts covering Arcelormittal (NYSE:MT) stock, 3 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $13 while the lowest target price is $6. The mean of all analyst targets is $8.72 with a 117.39% above today’s ($4.14) stock price. Arcelormittal was the topic of 13 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Citigroup downgraded shares on December 2 to “Neutral” rating. Berenberg initiated MT stock in a recent report from October 14 with “Buy” rating. Finally, ABN Amro upgraded the stock to “Buy” rating in a report issued on an August 5.
Approximately 2.62 million shares of stock traded hands. ArcelorMittal SA (ADR) (NYSE:MT) has declined 59.57% since May 4, 2015 and is downtrending. It has underperformed by 58.50% the S&P500.
ArcelorMittal SA is a holding company. The company has a market cap of $7.23 billion. The Firm is a steel and mining company, which operates through five divisions: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. It currently has negative earnings. The Firm produces a range of finished and semi-finished steel products.
According to Zacks Investment Research, “ArcelorMittal (MT) is the world’s leading steel and mining company. With a presence in more than 60 countries, it operates a balanced portfolio of cost competitive steel plants across both the developed and developing world. It is the leader in all the main sectors automotive, household appliances, packaging and construction. The company is also the world’s fourth largest producer of iron ore, with a global portfolio of 16 operating units with mines in operation or development.” Get a free copy of the Zacks research report on ArcelorMittal SA (ADR) (MT).