Ultime notizie per ArcelorMittal (NYSE:MT) Azioni

ArcelorMittal

ArcelorMittal SA is involved in the steel industry. The company's operating segments include NAFTA; Brazil; Europe; ACIS; Mining and others. It generates maximum revenue from the Europe segment. Europe segment produces hot-rolled coil, cold-rolled coil, coated products, tinplate, plate, and slab. These products are sold primarily to customers in the automotive, general, and packaging sectors as well as also produce long products consisting of sections, wire rods, rebar, billets, blooms and wire drawing, and tubular products. Geographically, it derives a majority of its revenue from United States.

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As of Sept. 27, 2024, four stocks in the materials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Freeport-McMoRan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>)</h3>
<ul>
<li>On Sept. 25, Freeport said its Board of Directors declared cash dividends of 15 cents per share on FCX&#8217;s common stock payable on Nov. 1, to shareholders of record as of Oct. 15. The company's stock gained around 17% over the past five days and has a <a href="https://www.benzinga.com/quote/FCX">52-week high of $55.24</a>.</li>
<li>RSI Value: 76.95&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>FCX Price Action: Shares of Freeport-McMoRan gained 7.5% to close at $51.91 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Mp Materials Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>)</h3>
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<li>On Sept. 3, MP Materials approved a $300 million increase to the company&#8217;s existing share repurchase program, bringing the total authorized amount to $600 million. &#8220;We remain very confident in the long-term value of our assets and the MP platform,&#8221; said James Litinsky, Founder, Chairman, and CEO of MP Materials. &#8220;As we have consistently stated, subject to continuing to maintain a fortress balance sheet, we expect to be opportunistic in our approach to capital allocation to create value for shareholders.&#8221;The company's stock gained around 20% over the past five days and <a href="https://www.benzinga.com/quote/MP">has a 52-week high</a> of $20.85.</li>
<li>RSI Value: 78.23</li>
<li>MP Price Action: Shares of Mp Materials rose 4.6% to close at $16.90 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">ArcelorMittal SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>)</h3>
<ul>
<li>On Aug. 28, Deutsche Bank analyst Bastian Synagowitz upgraded ArcelorMittal from Hold to Buy and raised the price target from $29 to $31. The company's stock gained around 10% over the past month and has a <a href="https://www.benzinga.com/quote/MT">52-week high</a> of $29.01.</li>
<li>RSI Value: 72.57</li>
<li>MT Price Action: Shares of ArcelorMittal gained 5.1% to close at $25.93 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Southern Copper Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>)</h3>
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<li>On Sept. 19, Morgan Stanley analyst Carlos De Alba maintained Southern Copper with an Underweight and raised the price target from $97 to $100. The company's stock jumped around 15% over the past five days and has a 52-week high is $129.07.</li>
<li>RSI Value: 73.34</li>
<li>SCCO Price Action: Shares of Southern Copper gained 8.2% to close at $120.43 on Wednesday. </li>
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Shares of metal and material companies are trading higher following a report suggesting China will issue up to $284 billion of sovereign debt as part of a stimulus.

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Shares of companies in the broader industrial space are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

Shares of steel stocks are trading higher amid a rise in the metal's price after the Fed cut rates by 50 basis points at the FOMC yesterday. On September 13, Senator Casey announced that the United States Trade Representative finalized an increase on Section 301 tariffs.

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Shares of companies within the broader metals and mining sector are trading lower amid overall market weakness. Weakness may be due to August's ISM Manufacturing PMI data indicating an economic contraction and pending non-farm payrolls data that may determine the size of future rate cuts.

Deutsche Bank analyst Bastian Synagowitz upgraded Arcelor Mittal NY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>) to Buy from Hold and <a target="_blank" href="https://www.benzinga.com/quote/MT/analyst-ratings" rel="noreferrer noopener">raised the price target from&nbsp;$29&nbsp;to&nbsp;$31.</a>
Per the analyst, 75% of Arcelor Mittal&#8217;s steel earnings are tied into attractive markets that trade at a premium to the company.
Despite this, valuation multiples of 3-4x EV/EBITDA are (wrongly) held hostage by the European business (literally priced at zero), the analyst writes.
Synagowitz writes, weaker developed markets and a slowing Chinese sector have led to a significant correction in Arcelor Mittal&#8217;s shares.
The analyst projects a &#8216;tough&#8217; second half of the year, with forecasts slightly below market expectations, but the physical cycle may be nearing its bottom.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/08/40569671/china-slams-canadas-100-tariffs-on-chinese-evs-after-trudeau-administration-follows-in-the-footsteps" rel="noreferrer noopener">China Slams Canada&#8217;s 100% Tariffs On Chinese EVs After Trudeau Administration Follows In The Footsteps Of US And EU: &#8216;Typical Trade Protectionism&#8217;</a>
ArcelorMittal&#8217;s solid balance sheet and improved portfolio quality provide downside protection, with breakeven free cash flow (FCF) achievable even in a weak scenario, Synagowitz adds.
In addition, the analyst underscored the fact that 75% of ArcelorMittal&#8217;s steel earnings come from attractive markets, and the company&#8217;s growth pipeline suggests 25% EBITDA growth over the next 3-4 years.
From a fundamental point of view, a low valuation, a solid balance sheet and the ability to defend FCF at the bottom of the cycle should provide support, the analyst writes.
Although the company&#8217;s valuation multiples are low due to European market concerns, with significant upside potential, a midterm target price of approximately EUR 60/$31 per share is plausible, Synagowitz highlights.
Price Action: MT shares are trading lower by 0.4% to $23.38 at the last check Wednesday.
Photo by christopher-burns- for Unsplash
See Also:&nbsp;
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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ArcelorMittal's Low Valuation Offers Significant Upside, Despite European Market Woes, Says Deutsche Bank

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/616956fbb650db0001510868/douglas-irwin">Citigroup analyst Douglas Irwin</a> upgraded the rating for Delek Logistics Partners, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) from Neutral to Buy and raises the price target from $44 to $45. Delek Logistics Partners shares fell 0.4% to close at $38.83 on Tuesday. <a href="https://www.benzinga.com/quote/dkl/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities analyst Ruplu Bhattacharya upgraded Concentrix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNXC#NASDAQ">CNXC</a>) from Underperform to Neutral and boosted the price target from $65 to $85. Concentrix shares rose 0.9% to close at $72.34 on Tuesday. <a href="https://www.benzinga.com/quote/cnxc/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/652d03f60d10db0001ea1f7b/yifeng-liu">HSBC analyst Yifeng Liu</a> upgraded the rating for Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) from Reduce to Hold and announced a price target of $82. Moderna shares fell 3.3% to close at $78.98 on Tuesday. <a href="https://www.benzinga.com/quote/mrna/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank analyst Bastian Synagowitz upgraded ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>) from Hold to Buy and raised the price target from $29 to $31. ArcelorMittal shares gained 0.3% to settle at $23.47 on Tuesday. <a href="https://www.benzinga.com/quote/mt/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58f614b80bd9910001a77aec/peter-arment">Baird analyst Peter Arment</a> upgraded the rating for AeroVironment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>) Neutral to Outperform and raised the price target from $161 to $220. AeroVironment shares rose 6.1% to close at $177.76 on Tuesday. <a href="https://www.benzinga.com/quote/avav/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying MRNA stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="504" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/28093728/image-285-1024x504.png" alt="" class="wp-image-518478" style="width:595px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/28093728/image-285-1024x504.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/28093728/image-285-300x148.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/28093728/image-285-768x378.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/28093728/image-285.png 1346w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

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This Moderna Analyst Is No Longer Bearish; Here Are Top 5 Upgrades For Wednesday

Deutsche Bank analyst Bastian Synagowitz upgrades ArcelorMittal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>) from Hold to Buy and raises the price target from $29 to $31.

Deutsche Bank Upgrades ArcelorMittal to Buy, Raises Price Target to $31

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Canada PM Trudeau Announces 100% Tariff On Chinese Electric Vehicle Imports And 25% Tariff On Chinese Aluminum And Steel

Global

ArcelorMittal And Atlas Renewables Energy To Form JV To Build A Solar Plant In Brazil's Minas Gerais State, Aiming To Supply Power To The Steel Producer's Operations In Southern Brazil; Once The Plant Starts Commercial Operation, Expected At The End Of 2025, The Agreement Stipulates That ArcelorMittal Will Buy Atlas' Entire Stake In The Project, Leaving It With 100% Of The Solar Park

Arcelor Mittal shares are trading higher after Barclays upgraded the stock from Equal-Weight to Overweight.

Barclays analyst Amos Fletcher upgrades ArcelorMittal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>) from Equal-Weight to Overweight.

Barclays Upgrades ArcelorMittal to Overweight

ArcelorMittal&nbsp;S.A.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mt#NYSE">MT</a>) recently completed the acquisition of 65,243,206 shares, representing approximately 28.4% equity interest in Vallourec. This follows the signing of a Share Purchase Agreement on Mar 12, 2024, and the subsequent approval from relevant antitrust authorities and clearances under foreign investment regulations. The shares were acquired at &euro;14.64 per share from funds managed by Apollo Global Management Inc for a total consideration of approximately &euro;955 million (roughly $1,043 million), subject to the successful completion of the settlement.
Following the completion of the transaction, Genuino Magalhaes Christino, chief financial officer of ArcelorMittal, will become the director of Vallourec. Keith Howell, chief operating officer of ArcelorMittal USA, will be appointed as a director of Vallourec as well. Aditya Mittal will take on the role of observer, subject to the successful settlement.
ArcelorMittal stated that it does not intend to launch a tender offer for the remaining shares of Vallourec over the next six months but will inform the market if this intention changes.
In its comments on the acquisition, ArcelorMittal emphasized Vallourec&#39;s strong position as a leading producer of high-quality tubular products within a market segment poised for growth, mainly driven by emerging clean energy markets. The company highlighted the strategic stake in Vallourec as a valuable addition to its investment portfolio and expressed its commitment to supporting Vallourec&#39;s management team in their efforts to enhance performance.
MT underscored that this acquisition aligns with its broader growth strategy. The company noted that recent acquisitions in Brazil and the United States are delivering strong results. Significant progress is being made on various organic growth projects, many of which are expected to reach completion this year. These initiatives are anticipated to considerably bolster MT&#39;s business by expanding product capabilities, increasing exposure to emerging markets and enhancing overall earnings capacity.
The stock has lost 18.9% in the past year against the&nbsp;industry&#39;s&nbsp;18.6% fall.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ee/73994.jpg?v=931722439" />
Image Source: Zacks Investment Research
In second-quarter earnings call, the company revised its projection for global steel consumption growth, excluding China, to 2.5-3% for 2024, down from its previous estimate of 3-4%. The company continues to forecast capital expenditures for 2024 within the range of $4.5-$5 billion, with $1.4-$1.5 billion allocated to strategic growth projects. The company expects a $1.6 billion-investment in working capital made in the first half of 2024 to reverse by the year-end, supporting a positive outlook for free cash-flow generation. Completing strategic growth projects is anticipated to lead to structurally higher EBITDA and investable cash flow in the future.
<div class="chart_embed">
<h3>ArcelorMittal Price and Consensus</h3>
<img alt="ArcelorMittal Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/7a/1723462652.png" style="height:265px; width:582px" title="" />
ArcelorMittal price-consensus-chart | ArcelorMittal Quote
</div>
<h3>Zacks Rank &amp; Key Picks</h3>
ArcelorMittal currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Newmont Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>), Franco-Nevada Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fnv#NYSE">FNV</a>) and Ashland Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ash#NYSE">ASH</a>). Newmont and Franco-Nevada sport a Zacks Rank #1 (Strong Buy), and Ashland currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Newmont&#39;s current-year earnings is pegged at $2.82, indicating a rise of 75% from year-ago levels. The consensus estimate for NEM&#39;s earnings has increased 16% in the past 60 days.The stock has gained nearly 20.9% in the past year.
The Zacks Consensus Estimate for FNV&#39;s current-year earnings is pegged at $3.27. The consensus estimate for FNV&#39;s earnings has increased by 3% in the past 60 days. FNV beat the consensus estimate in the last four quarters, with the average earnings surprise being 10.5%.
The Zacks Consensus Estimate for ASH&#39;s current fiscal year earnings is pegged at $4.6, indicating a year-over-year rise of 13%. ASH&#39;s earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing it once, the average earnings surprise being 27.4%. The company&#39;s shares have increased 5.4% in the past year.
<a href="https://www.zacks.com/stock/news/2320862/arcelormittal-mt-closes-strategic-28-stake-buy-in-vallourec?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2320862">To read this article on Zacks.com click here.</a>

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ArcelorMittal Closes Strategic 28% Stake Buy in Vallourec

Deutsche Bank analyst Bastian Synagowitz maintains ArcelorMittal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>) with a Hold and lowers the price target from $30 to $29.

Deutsche Bank Maintains Hold on ArcelorMittal, Lowers Price Target to $29

Arcelor Mittal shares are trading lower. The company reported worse-than-expected Q2 financial results.

ArcelorMittal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>) reported quarterly earnings of $0.63 per share which missed the analyst consensus estimate of $0.71 by 11.27 percent. This is a 71.36 percent decrease over earnings of $2.20 per share from the same period last year. The company reported quarterly sales of $16.249 billion which missed the analyst consensus estimate of $16.521 billion by 1.65 percent. This is a 12.67 percent decrease over sales of $18.606 billion the same period last year.

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