ArcelorMittal (NYSE:MT) price on Thursday, February 06, rose 11.19% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $28.33.
A look at the stock’s price movement, the close in the last trading session was $25.48, moving within a range at $27.4 and $28.83. The beta value (5-Year monthly) was 1.741 while the PE ratio in trailing twelve months stood at 16.72. Turning to its 52-week performance, $28.95 and $20.52 were the 52-week high and 52-week low respectively. Overall, MT moved 28.60% over the past month.
ArcelorMittal’s market cap currently stands at around $22.25 billion, with investors looking forward to this quarter’s earnings report slated for in March. The company has a Forward Dividend ratio of 0.50, with its dividend yield at 1.76%. 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 15.48B for the company’s revenue for the quarter, with a low and high estimate of 15.4B and 15.55B respectively. The average forecast suggests down to a -4.96% 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 63.66B, representing a 1.95% jump 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% Sell. On the other hand, the stock is on average a 25% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy 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 17.54% and 17.52% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 76.66, while 7-day volatility ratio is 2.69% and 1.71% in the 30-day chart. Further, ArcelorMittal (MT) has a beta value of 1.81, and an average true range (ATR) of 0.78. Analysts have given the company’s stock an average 52-week price target of $31, forecast between a low of $31 and high of $31. Looking at the price targets, the low is -9.42% off current price level while to achieve the yearly target high, price needs to move -9.42%. Nonetheless, investors will most likely welcome a -9.42% 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 1.66 million over the past 3 months. The company’s latest data on shares outstanding shows there are 785.39 million shares.
The 0.00% of ArcelorMittal’s shares are in the hands of company insiders while institutional holders own 4.57% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 5.48 million on 2025-01-15, giving us a short ratio of 3.51. The data shows that as of 2025-01-15 short interest in ArcelorMittal (MT) stood at 70.999996 of shares outstanding, with shares short rising to 3.98 million registered in 2024-12-13. Current price change has pushed the stock 22.48% 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.
