JP Morgan Upgrades ArcelorMittal SA (ADR) to Neutral

Brokerage firm JP Morgan Upgrades its rating on ArcelorMittal SA (ADR)(NYSE:MT). The shares have been rated Neutral. Previously, the analysts had a Underweight rating on the shares. The rating by JP Morgan was issued on Aug 19, 2016.

In a different note, On Jun 1, 2016, Citigroup said it Upgrades its rating on ArcelorMittal SA (ADR). In the research note, the firm Raises the price-target to $5.00 per share. The shares have been rated ‘Buy’ by the firm.

ArcelorMittal SA (ADR) (MT) made into the market gainers list on Mondays trading session with the shares advancing 1.81% or 0.11 points. Due to strong positive momentum, the stock ended at $6.19, which is also near the day’s high of $6.2285. The stock began the session at $6.14 and the volume stood at 1,32,92,501 shares. The 52-week high of the shares is $6.59 and the 52 week low is $2.327913. The company has a current market capitalization of $18,923 M and it has 3,05,70,00,000 shares in outstanding.

ArcelorMittal SA (ADR)(MT) last announced its earnings results on May 6, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $13.40B. Analysts had an estimated revenue of $13.67B. Earnings per share were $-0.10. Analysts had estimated an EPS of $-0.06.

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 Company’s subsidiaries include ArcelorMittal Dofasco Inc. ArcelorMittal Montreal Inc. ArcelorMittal Point Lisas Ltd. ArcelorMittal Belgium N.V. and ArcelorMittal South Africa Ltd. among others.

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