ArcelorMittal (MT) Shares Gap Up to $0.00

Shares of ArcelorMittal (NYSE:MT) gapped up before the market opened on Wednesday . The stock had previously closed at ($29.55), but opened at $0.00. ArcelorMittal shares last traded at $0.00, with a volume of 4746153 shares trading hands.

Several analysts have recently issued reports on MT shares. Jefferies Group LLC reissued a “buy” rating and set a $34.00 price objective (up from $31.50) on shares of ArcelorMittal in a research note on Tuesday, July 18th. ING Group raised shares of ArcelorMittal from a “hold” rating to a “buy” rating in a research note on Friday, July 14th. Deutsche Bank AG raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $32.00 in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Tuesday, July 11th. Finally, BidaskClub raised shares of ArcelorMittal from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. ArcelorMittal has an average rating of “Buy” and a consensus price target of $30.77.

Several institutional investors and hedge funds have recently made changes to their positions in MT. Bank of New York Mellon Corp increased its stake in shares of ArcelorMittal by 17.9% during the 1st quarter. Bank of New York Mellon Corp now owns 62,732 shares of the basic materials company’s stock worth $524,000 after purchasing an additional 9,539 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of ArcelorMittal by 0.5% during the 1st quarter. Ameriprise Financial Inc. now owns 53,502 shares of the basic materials company’s stock worth $447,000 after purchasing an additional 285 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of ArcelorMittal by 1.2% during the 1st quarter. Alliancebernstein L.P. now owns 59,901 shares of the basic materials company’s stock worth $500,000 after purchasing an additional 720 shares during the last quarter. FMR LLC increased its stake in shares of ArcelorMittal by 2.3% during the 1st quarter. FMR LLC now owns 2,937,110 shares of the basic materials company’s stock worth $24,525,000 after purchasing an additional 67,100 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of ArcelorMittal by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,756,562 shares of the basic materials company’s stock worth $31,367,000 after purchasing an additional 97,928 shares during the last quarter. Institutional investors own 3.59% of the company’s stock.

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ArcelorMittal Company Profile

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

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