ArcelorMittal (NYSE:MT) Rating Cut
Goldman Sachs decreased the shares of ArcelorMittal (NYSE:MT) from a Buy rating to Neutral rating in an analyst note revealed to investors and clients on Thursday morning.
The stock downgrade is noticed by equity trades, as NYSE:MT is at the moment trading -3.64% lower at $6.09 as of 04:11 New York time. ArcelorMittal shares have gained 46.64% in the past 200 days, while the S&P 500 Index has surged 4.02% in the same time period.
Out of 6 brokers covering ArcelorMittal, 3 rate it a Buy, 3 indicate a Hold while 0 suggest a Sell. The highest target is $7.5 and the lowest is $4 according to Thomson/First Call. The 12-month mean target is $5.98, which means downside potential of 1.81% over the current price.
NYSE:MT Price Chart & Trend
The stock price of ArcelorMittal risen 46.64% over the last 200 days, and is in mighty up trend. In the last 50 and 100 days, ArcelorMittal is up 3.44% and up 43.64%, respectively. Our stocks momentum model is shown on the price chart below.
ArcelorMittal (NYSE:MT) Profile
ArcelorMittal S.A. (ArcelorMittal) is a holding company. The Company is an integrated steel and mining company. ArcelorMittal operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
ArcelorMittal (NYSE:MT) traded down -3.64% on 13 October, hitting $6.09. A total of 6.61M shares of the company’s stock traded hands. This is down from average of 18.23M shares. ArcelorMittal has a 52 week low of $2.93 and a 52 week high of $6.59. The company has a market cap of $18.97B and a P/E ratio of 0.
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