ArcelorMittal (NYSE:MT) price on current trading day, rose 4.42% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $24.82.
A look at the stock’s price movement, the level at last check in today’s session was $23.77, moving within a range at $24.68 and $24.9817. The beta value (5-Year monthly) was 1.741. Turning to its 52-week performance, $29.01 and $20.52 were the 52-week high and 52-week low respectively. Overall, MT moved 3.20% over the past month.
ArcelorMittal’s market cap currently stands at around $19.49 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-06. The company has a Forward Dividend ratio of 0.50, with its dividend yield at 2.01%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 15.16B for the company’s revenue for the quarter, with a low and high estimate of 14.53B and 16.01B respectively. The average forecast suggests up to a 4.15% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 62.53B, representing a -8.41% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MT is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
8 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 4 recommend MT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MT’s current price about 0.56% and 1.69% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 50.80, while 7-day volatility ratio is 1.80% and 1.61% in the 30-day chart. Further, ArcelorMittal (MT) has a beta value of 1.73, and an average true range (ATR) of 0.70. Analysts have given the company’s stock an average 52-week price target of $31, forecast between a low of $29.6 and high of $50. Looking at the price targets, the low is -19.26% off recent price level in today’s trading while to achieve the yearly target high, it has to move -101.45%. Nonetheless, investors will most likely welcome a -24.9% jump to $31 which is the analysts’ median price.
If we refocus on ArcelorMittal (NYSE:MT), historical trading data shows that trading volumes averaged 1.92 over the past 10 days and 1.57 million over the past 3 months. The company’s latest data on shares outstanding shows there are 819.27 million shares.
The 0.00% of ArcelorMittal’s shares are in the hands of company insiders while institutional holders own 3.89% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.99 million on 2024-10-31, giving us a short ratio of 3.47. The data shows that as of 2024-10-31 short interest in ArcelorMittal (MT) stood at 64.0 of shares outstanding, with shares short rising to 4.23 million registered in 2024-09-30. Current price change has pushed the stock -12.57% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MT stock continues to rise going into the next quarter.
