ArcelorMittal (MT) has risen sharply, recording gains of 29.46% in the past 4 weeks. However, the stock has corrected -0.92% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 26.32% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
ArcelorMittal (NYSE:MT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.35 and $6.29 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.47. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.46, notching a gain of 1.89% for the day. The total traded volume was 11,787,051 . The stock had closed at $6.34 on the previous day.
The stock has recorded a 20-day Moving Average of 11.11% and the 50-Day Moving Average is 21.87%. ArcelorMittal is up 22.81% in the last 3-month period. Year-to-Date the stock performance stands at 53.08%.
ArcelorMittal (MT) : The highest short term price target forecast on ArcelorMittal (MT) is $8 and the lowest target price is $6. A total of 5 equity analysts are currently covering the company. The average price of all the analysts is $6.98 with a standard deviation of $1.07.
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company is a steel and mining company, which operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. The Company produces a range of finished and semi-finished steel products. Specifically, it produces flat steel products, including sheet and plate, and long steel products, including bars, rods and structural shapes. In addition, the Company produces pipes and tubes for various applications. The Company also produces various types of mining products, including iron ore lump, fines, concentrate and sinter feed, as well as coking, pulverized coal injection (PCI) and thermal coal. The Companys subsidiaries include ArcelorMittal Dofasco Inc., ArcelorMittal Montreal Inc., ArcelorMittal Point Lisas Ltd., ArcelorMittal Belgium N.V. and ArcelorMittal South Africa Ltd., among others.