Arcelormittal (NYSE:MT) Receives a Downgrade
Arcelormittal (NYSE:MT) was lowered by equity analysts at RBC Capital Markets from their past “Outperform” rating to a “Sector Perform” rating in an analyst research report revealed to clients and investors on Friday, 18 December.
From a total of 6 analysts covering Arcelormittal (NYSE:MT) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $13 while the lowest target price is $4.5. The mean of all analyst targets is $7.38 with a 133.77% above today’s ($3.85) stock price. Arcelormittal was the topic of 14 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. HSBC downgraded shares on December 7 to “Hold” rating. Credit Suisse downgraded MT stock in a recent report from October 23 to “Neutral” rating. Finally, JP Morgan upgraded the stock to “Overweight” rating in a report issued on an October 9.
The stock increased 3.22% or $0.12 during the last trading session, striking $3.85. Approximately 5.31 million shares of stock traded hands. ArcelorMittal SA (ADR) (NYSE:MT) has declined 68.63% since May 15, 2015 and is downtrending. It has underperformed by 64.82% the S&P500.
ArcelorMittal SA is a holding company. The company has a market cap of $6.26 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.”