What’s Propelling Arcelormittal SA Luxembourg (NYSE:MT) After Higher Shorts Reported?

June 16, 2017 - By Dolores Ford

 What’s Propelling Arcelormittal SA Luxembourg (NYSE:MT) After Higher Shorts Reported?

The stock of Arcelormittal SA Luxembourg (NYSE:MT) registered an increase of 8.44% in short interest. MT’s total short interest was 35.92 million shares in June as published by FINRA. Its up 8.44% from 33.13M shares, reported previously. With 16.91M shares average volume, it will take short sellers 2 days to cover their MT’s short positions.

About 916,899 shares traded. ArcelorMittal SA (ADR) (NYSE:MT) has risen 67.93% since June 16, 2016 and is uptrending. It has outperformed by 51.23% the S&P500.

ArcelorMittal S.A. is a holding company. The company has market cap of $19.81 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 6.3 P/E ratio. ArcelorMittal operates through five divisions, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

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

Among 15 analysts covering Arcelormittal (NYSE:MT), 12 have Buy rating, 1 Sell and 2 Hold. Therefore 80% are positive. Arcelormittal had 38 analyst reports since July 21, 2015 according to SRatingsIntel. Morgan Stanley initiated ArcelorMittal SA (ADR) (NYSE:MT) on Thursday, March 10 with “Overweight” rating. The stock of ArcelorMittal SA (ADR) (NYSE:MT) has “Outperform” rating given on Friday, May 26 by Macquarie Research. On Wednesday, April 20 the stock rating was upgraded by Jefferies to “Buy”. The firm has “Outperform” rating given on Friday, March 24 by Credit Suisse. JP Morgan downgraded ArcelorMittal SA (ADR) (NYSE:MT) on Monday, April 18 to “Underweight” rating. The firm has “Buy” rating by Berenberg given on Wednesday, October 14. Bank of America downgraded ArcelorMittal SA (ADR) (NYSE:MT) on Tuesday, November 8 to “Neutral” rating. JP Morgan upgraded the stock to “Neutral” rating in Friday, August 19 report. The company was upgraded on Monday, October 5 by Citigroup. Credit Suisse upgraded ArcelorMittal SA (ADR) (NYSE:MT) rating on Wednesday, April 13. Credit Suisse has “Outperform” rating and $7.50 target.

Another recent and important ArcelorMittal SA (ADR) (NYSE:MT) news was published by Investorplace.com which published an article titled: “3 Big Stock Charts for Tuesday: AutoZone, Inc. (AZO), ArcelorMittal SA (ADR …” on May 23, 2017.

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