ArcelorMittal S.A. [MT] gain 1.79% so far this year. What now?

ArcelorMittal S.A. [NYSE: MT] loss -8.85% or -2.59 points to close at $26.69 with a heavy trading volume of 5650104 shares. The company report on March 13, 2023 that ArcelorMittal S.A.: ArcelorMittal becomes an Official Partner of the Paris 2024 Olympic and Paralympic Games.

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Drawing on its know-how and innovative power, ArcelorMittal will manufacture some of the key symbols of the Paris 2024 Games – the Olympic and Paralympic torches and cauldrons and the large rings and agitos which will be installed in the host city – in steel with a low CO2 footprint.

March 13, 2023 – ArcelorMittal becomes an Official Partner of the Paris 2024 Olympic and Paralympic Games.

It opened the trading session at $27.01, the shares rose to $27.38 and dropped to $26.24, the range by which the price of stock traded the whole day. The daily chart for MT points out that the company has recorded 19.15% gains over the past six months. However, it is still -38.65% lower than its most recent low trading price.

If we look at the average trading volume of 2.41M shares, MT reached to a volume of 5650104 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 S.A. [MT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MT shares is $36.29 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 2.20. 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.

BofA Securities have made an estimate for ArcelorMittal S.A. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 14, 2022. The new note on the price target was released on October 06, 2022, representing the official price target for ArcelorMittal S.A. stock.

The Average True Range (ATR) for ArcelorMittal S.A. is set at 0.98, with the Price to Sales ratio for MT stock in the period of the last 12 months amounting to 0.31. The Price to Book ratio for the last quarter was 0.43, with the Price to Cash per share for the same quarter was set at 10.12. Price to Free Cash Flow for MT in the course of the last twelve months was 3.83 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for MT stock

ArcelorMittal S.A. [MT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.89. With this latest performance, MT shares dropped by -8.94% in over the last four-week period, additionally plugging by 19.15% over the last 6 months – not to mention a drop of -11.06% 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 32.92, with the RSI for the last a single of trading hit 27.20, and the three-weeks RSI is set at 37.56 for ArcelorMittal S.A. [MT]. The present Moving Average for the last 50 days of trading for this stock 30.15, while it was recorded at 28.95 for the last single week of trading, and 25.82 for the last 200 days.

ArcelorMittal S.A. [MT]: A deeper dive into fundamental analysis

ArcelorMittal S.A.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.70.

An analysis of insider ownership at ArcelorMittal S.A. [MT]

There are presently around $1,344 million, or 6.40% of MT stock, in the hands of institutional investors. The top three institutional holders of MT stocks are: GQG PARTNERS LLC with ownership of 12,343,511, which is approximately -3.341% of the company’s market cap and around 44.80% of the total institutional ownership; FMR LLC, holding 5,576,408 shares of the stock with an approximate value of $148.83 million in MT stocks shares; and ARROWSTREET CAPITAL, LIMITED PARTNERSHIP, currently with $115.09 million in MT stock with ownership of nearly 1180.659% of the company’s market capitalization.

85 institutional holders increased their position in ArcelorMittal S.A. [NYSE:MT] by around 8,588,662 shares. Additionally, 99 investors decreased positions by around 10,281,557 shares, while 26 investors held positions by with 31,470,534 shares. The mentioned changes placed institutional holdings at 50,340,753 shares, according to the latest SEC report filing. MT stock had 34 new institutional investments in for a total of 3,326,872 shares, while 30 institutional investors sold positions of 2,749,367 shares during the same period.


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