ArcelorMittal (NYSE:MT) Shares Gap Up to $13.26

ArcelorMittal SA (NYSE:MT)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $12.98, but opened at $13.26. ArcelorMittal shares last traded at $13.42, with a volume of 2,912,669 shares.

A number of equities analysts have recently commented on the company. ValuEngine lowered ArcelorMittal from a “sell” rating to a “strong sell” rating in a research note on Friday, May 24th. Goldman Sachs Group upgraded ArcelorMittal from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. Finally, TheStreet lowered ArcelorMittal from a “b-” rating to a “c+” rating in a research note on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $26.79.

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.52. The stock has a market capitalization of $13.82 billion, a P/E ratio of 2.33 and a beta of 2.35. The firm has a 50 day moving average of $15.59 and a 200-day moving average of $18.98.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. ArcelorMittal had a return on equity of 8.39% and a net margin of 2.73%. The firm had revenue of $19.28 billion for the quarter, compared to analyst estimates of $18.90 billion. During the same period in the previous year, the company posted $1.83 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts expect that ArcelorMittal SA will post 0.96 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Assetmark Inc. bought a new stake in shares of ArcelorMittal in the 2nd quarter valued at approximately $30,000. Quantamental Technologies LLC grew its stake in shares of ArcelorMittal by 536.3% in the 2nd quarter. Quantamental Technologies LLC now owns 5,008 shares of the basic materials company’s stock valued at $90,000 after purchasing an additional 4,221 shares during the period. NEXT Financial Group Inc grew its stake in shares of ArcelorMittal by 1,541.5% in the 2nd quarter. NEXT Financial Group Inc now owns 5,499 shares of the basic materials company’s stock valued at $99,000 after purchasing an additional 5,164 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of ArcelorMittal by 4,549.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,533 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 5,414 shares during the period. Finally, Investors Research Corp bought a new stake in shares of ArcelorMittal in the 1st quarter valued at approximately $166,000. Hedge funds and other institutional investors own 2.81% of the company’s stock.

About ArcelorMittal (NYSE:MT)

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.

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