ArcelorMittal [MT] Is Currently -0.38 below its 200 Period Moving Avg: What Dose This Mean?

ArcelorMittal [NYSE: MT] loss -0.38% or -0.12 points to close at $31.06 with a heavy trading volume of 2636799 shares. The company report on July 7, 2021 that ArcelorMittal announces the completion of its third share buyback program.

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07 July 2021, 15:30 CET.

ArcelorMittal (or the ‘Company’) announces that it has completed the third share buyback program announced on 18 June 2021 under the authorization given by the annual general meeting of shareholders of 13 June 2020 and 8 June 2021.

It opened the trading session at $30.76, the shares rose to $31.29 and dropped to $30.47, the range by which the price of stock traded the whole day. The daily chart for MT points out that the company has recorded 25.09% gains over the past six months. However, it is still -190.01% lower than its most recent low trading price.

If we look at the average trading volume of 4.53M shares, MT reached to a volume of 2636799 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about ArcelorMittal [MT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MT shares is $40.59 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MT stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for ArcelorMittal shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 25, 2021. The new note on the price target was released on January 19, 2021, representing the official price target for ArcelorMittal stock.

The Average True Range (ATR) for ArcelorMittal is set at 1.01, with the Price to Sales ratio for MT stock in the period of the last 12 months amounting to 0.59. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 5.26. Price to Free Cash Flow for MT in the course of the last twelve months was 15.21 with Quick ratio for the last quarter at 0.70.

Trading performance analysis for MT stock

ArcelorMittal [MT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.40. With this latest performance, MT shares dropped by -4.69% in over the last four-week period, additionally plugging by 25.09% over the last 6 months – not to mention a rise of 171.03% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MT stock in for the last two-week period is set at 51.19, with the RSI for the last a single of trading hit 53.06, and the three-weeks RSI is set at 50.95 for ArcelorMittal [MT]. The present Moving Average for the last 50 days of trading for this stock 31.41, while it was recorded at 30.44 for the last single week of trading, and 24.20 for the last 200 days.

ArcelorMittal [MT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and ArcelorMittal [MT] shares currently have an operating margin of +6.45 and a Gross Margin at +10.25. ArcelorMittal’s Net Margin is presently recorded at -1.38.

Return on Total Capital for MT is now 6.57, given the latest momentum, and Return on Invested Capital for the company is -1.53. Return on Equity for this stock declined to -1.98, with Return on Assets sitting at -0.88. When it comes to the capital structure of this company, ArcelorMittal [MT] has a Total Debt to Total Equity ratio set at 35.15. Additionally, MT Total Debt to Total Capital is recorded at 26.01, with Total Debt to Total Assets ending up at 16.04. Long-Term Debt to Equity for the company is recorded at 28.46, with the Long-Term Debt to Total Capital now at 21.06.

Reflecting on the efficiency of the workforce at the company, ArcelorMittal [MT] managed to generate an average of -$3,833 per employee. Receivables Turnover for the company is 11.53 with a Total Asset Turnover recorded at a value of 0.64.ArcelorMittal’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.30.

An analysis of insider ownership at ArcelorMittal [MT]

There are presently around $1,753 million, or 5.20% of MT stock, in the hands of institutional investors. The top three institutional holders of MT stocks are: GQG PARTNERS LLC with ownership of 12,409,551, which is approximately New of the company’s market cap and around 44.80% of the total institutional ownership; FMR LLC, holding 7,224,268 shares of the stock with an approximate value of $224.39 million in MT stocks shares; and CLEARBRIDGE INVESTMENTS, LLC, currently with $91.15 million in MT stock with ownership of nearly -0.412% of the company’s market capitalization.

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Positions in ArcelorMittal stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 131 institutional holders increased their position in ArcelorMittal [NYSE:MT] by around 29,964,598 shares. Additionally, 62 investors decreased positions by around 21,019,109 shares, while 28 investors held positions by with 5,457,453 shares. The mentioned changes placed institutional holdings at 56,441,160 shares, according to the latest SEC report filing. MT stock had 79 new institutional investments in for a total of 19,369,371 shares, while 17 institutional investors sold positions of 5,493,827 shares during the same period.

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