Will Arcelormittal SA Luxembourg (NYSE:MT) Run Out of Steam Soon? Short Interest is Up

June 16, 2017 - By Richard Conner

 Will Arcelormittal SA Luxembourg (NYSE:MT) Run Out of Steam Soon? Short Interest is Up

The stock of Arcelormittal SA Luxembourg (NYSE:MT) registered an increase of 8.44% in short interest. MT’s total short interest was 35.92 million shares in June as published by FINRA. Its up 8.44% from 33.13M shares, reported previously. With 16.91M shares average volume, it will take short sellers 2 days to cover their MT’s short positions.

About 916,899 shares traded. ArcelorMittal SA (ADR) (NYSE:MT) has risen 67.93% since June 16, 2016 and is uptrending. It has outperformed by 51.23% the S&P500.

ArcelorMittal S.A. is a holding company. The company has market cap of $19.81 billion. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. It has a 6.3 P/E ratio. ArcelorMittal operates through five divisions, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

ArcelorMittal SA (ADR) (NYSE:MT) Ratings Coverage

Among 15 analysts covering Arcelormittal (NYSE:MT), 12 have Buy rating, 1 Sell and 2 Hold. Therefore 80% are positive. Arcelormittal had 38 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of ArcelorMittal SA (ADR) (NYSE:MT) has “Outperform” rating given on Friday, May 26 by Macquarie Research. On Tuesday, February 23 the stock rating was downgraded by Cowen & Co to “Market Perform”. The firm has “Overweight” rating by JP Morgan given on Friday, March 31. Jefferies upgraded ArcelorMittal SA (ADR) (NYSE:MT) rating on Monday, March 7. Jefferies has “Hold” rating and $4.50 target. The firm earned “Outperform” rating on Friday, March 24 by Credit Suisse. The stock of ArcelorMittal SA (ADR) (NYSE:MT) earned “Outperform” rating by Cowen & Co on Thursday, March 23. JP Morgan downgraded the stock to “Underweight” rating in Monday, April 18 report. Credit Suisse downgraded the shares of MT in report on Friday, October 23 to “Neutral” rating. The stock of ArcelorMittal SA (ADR) (NYSE:MT) earned “Neutral” rating by JP Morgan on Thursday, August 27. The firm earned “Buy” rating on Friday, February 10 by Bank of America.

Another recent and important ArcelorMittal SA (ADR) (NYSE:MT) news was published by Investorplace.com which published an article titled: “3 Big Stock Charts for Tuesday: AutoZone, Inc. (AZO), ArcelorMittal SA (ADR …” on May 23, 2017.

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