Goldman Sachs downgraded ArcelorMittal (NYSE:MT) from Buy to Neutral in a report released today.
- Updated: October 13, 2016
Goldman Sachs has downgraded ArcelorMittal (NYSE:MT) from Buy to Neutral in a report released on 10/13/2016.
Yesterday ArcelorMittal (NYSE:MT) traded -3.72% lower at $6.32. The company’s 50-day moving average is $6.00 and its 200-day moving average is $5.50. The last stock close price is up 10.70% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 6,090,395 shares of the stock were exchanged, down from an average trading volume of 17,300,500
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ArcelorMittal has a 52 week low of $2.93 and a 52 week high of $6.59 The company’s market cap is currently $0.
In addition to Goldman Sachs reporting its target price, a total of 6 firms have issued a report on MT. The one year target is $5.98 with two equity analysts rating the company a strong buy, one equity analyst rating the company a buy, three equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and lastly zero equity analysts rating the company a sell.
Brief Synopsis About ArcelorMittal (NYSE:MT)
ArcelorMittal S.A. (ArcelorMittal) is a holding company. The Company is an integrated steel and mining company. ArcelorMittal operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. The NAFTA segment produces flat, long and tubular products. The Brazil segment includes the flat operations of Brazil, and the long and tubular operations of Brazil and neighboring countries. The Europe segment is the flat steel producer in Europe. The ACIS segment produces a combination of flat, long products and tubular products. The Mining segment comprises all mines owned by ArcelorMittal in the Americas, Asia, Europe and Africa. It produces a range of finished and semi-finished steel products (semis). ArcelorMittal produces flat steel products, including sheet and plate, and long steel products, including bars, rods and structural shapes. In addition, ArcelorMittal produces pipes and tubes for various applications.
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