ArcelorMittal SA (ADR) (MT) Sets 52-Week High; Strong Momentum for Holders

October 20, 2017 - By Adrian Mccoy

The stock of ArcelorMittal SA (ADR) (NYSE:MT) hit a new 52-week high and has $31.44 target or 6.00 % above today’s $29.66 share price. The 8 months bullish chart indicates low risk for the $30.04 billion company. The 1-year high was reported on Oct, 20 by Barchart.com. If the $31.44 price target is reached, the company will be worth $1.80B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 1.75 million shares traded. ArcelorMittal SA (ADR) (NYSE:MT) has risen 67.93% since October 20, 2016 and is uptrending. It has outperformed by 51.23% the S&P500.

Investors wait ArcelorMittal SA (ADR) (NYSE:MT) to report on November, 14. its quarterly earnings Wall Street analysts expect $0.86 earnings per share, up $0.20 or 30.30 % from last year’s $0.66 same quarter earnings. This translates into $871.01 million profit for MT giving the stock a 8.63 P/E. This is assuming the current $0.86 EPS is accurate. ArcelorMittal SA (ADR)’s Wall Street analysts see -35.34 % negative EPS growth, taking into account the $1.33 EPS reproted in the previous quarter,

ArcelorMittal SA (ADR) (NYSE:MT) Ratings Coverage

Among 16 analysts covering Arcelormittal (NYSE:MT), 12 have Buy rating, 2 Sell and 2 Hold. Therefore 75% are positive. Arcelormittal has $3400 highest and $3 lowest target. $18.08’s average target is -39.04% below currents $29.66 stock price. Arcelormittal had 47 analyst reports since July 21, 2015 according to SRatingsIntel. The stock has “Buy” rating by Citigroup on Monday, October 5. The rating was maintained by Jefferies on Wednesday, August 30 with “Buy”. The firm earned “Buy” rating on Wednesday, August 5 by ABN Amro. The firm has “Underweight” rating by JP Morgan given on Monday, April 18. The firm earned “Buy” rating on Tuesday, July 18 by Jefferies. The rating was initiated by Berenberg on Wednesday, October 14 with “Buy”. On Tuesday, April 12 the stock rating was upgraded by Goldman Sachs to “Buy”. The rating was downgraded by Cowen & Co to “Market Perform” on Tuesday, February 23. On Wednesday, December 2 the stock rating was downgraded by Citigroup to “Neutral”. The firm has “Hold” rating by Jefferies given on Monday, March 7.

More notable recent ArcelorMittal SA (ADR) (NYSE:MT) news were published by: Investorplace.com which released: “Why General Electric Company (GE), Nordstrom, Inc. (JWN) and ArcelorMittal SA …” on May 12, 2017, also Investorplace.com with their article: “ArcelorMittal SA (ADR) (MT) Rides Higher Steel Prices to Earnings Beat” published on May 12, 2017, Investorplace.com published: “Why Qualcomm, Inc. (QCOM), ArcelorMittal SA (ADR) (MT) and Fastenal Company …” on April 12, 2017. More interesting news about ArcelorMittal SA (ADR) (NYSE:MT) were released by: Nasdaq.com and their article: “Why ArcelorMittal SA (ADR) (MT) Stock Is Soaring Today” published on May 26, 2016 as well as Investorplace.com‘s news article titled: “3 Big Stock Charts for Tuesday: AutoZone, Inc. (AZO), ArcelorMittal SA (ADR …” with publication date: May 23, 2017.

ArcelorMittal S.A. is a holding company. The company has market cap of $30.04 billion. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. It has a 8.9 P/E ratio. ArcelorMittal operates through five divisions, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

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