ArcelorMittal (NYSE:MT) shares, rose in value, with the stock price up by 3.31% to the previous day’s close as strong demand from buyers drove the stock to $24.80.
Actively observing the price movement in the recent trading, the stock is buoying the session at $24.00, falling within a range of $24.73 and $24.93. The value of beta (5-year monthly) is 1.741. Referring to stock’s 52-week performance, its high was $28.95, and the low was $20.52. On the whole, MT has fluctuated by 6.97% over the past month.
With the market capitalization of ArcelorMittal currently standing at about $19.47 billion, investors are eagerly awaiting this quarter’s results, scheduled for in February. The company’s Forward Dividend Ratio is 0.50, with its dividend yield at 2.02%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 62.84B, with a low estimate of 14.84B and a high estimate of 16.28B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 15.27B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that MT’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the price of MT currently trading nearly 8.04% and 3.10% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 63.66, while the 7-day volatility ratio is showing 1.45% which for the 30-day chart, stands at 1.46%. Furthermore, ArcelorMittal (MT)’s beta value is 1.73, and its average true range (ATR) is 0.54.
A comparison of ArcelorMittal (MT) with its peers suggests the former has fared considerably weaker in the market. MT showed an intraday change of 3.31% in today’s session so far, and over the past year, it shrunk by -8.17%%.
Data on historical trading for ArcelorMittal (NYSE:MT) indicates that the trading volumes over the past 10 days have averaged 1.93 and over the past 3 months, they’ve averaged 1.59 million. According to company’s latest data on outstanding shares, there are 785.39 million shares outstanding.
Nearly 0.00% of ArcelorMittal’s shares belong to company insiders and institutional investors own 4.26% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.26 million shares as on 2024-12-31, resulting in a short ratio of 3.12. According to the data, the short interest in ArcelorMittal (MT) stood at 55.00 of shares outstanding as of 2024-12-31; the number of short shares registered in 2024-11-29 reached 3.93 million. The stock has risen by 7.20% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MT stock heading into the next quarter.
