MT - ArcelorMittal

NYSE - NYSE Delayed Price. Currency in USD
16.55
-0.46 (-2.70%)
At close: 4:02PM EST

16.55 0.00 (0.00%)
After hours: 4:17PM EST

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Previous Close17.01
Open16.77
Bid16.54 x 4000
Ask16.75 x 4000
Day's Range16.46 - 16.87
52 Week Range12.53 - 25.00
Volume2,859,991
Avg. Volume3,452,540
Market Cap16.913B
Beta (3Y Monthly)2.32
PE Ratio (TTM)27.00
EPS (TTM)0.61
Earnings DateFeb 21, 2017 - Feb 27, 2017
Forward Dividend & Yield0.20 (1.18%)
Ex-Dividend Date2019-05-16
1y Target Est23.42
  • Nationalising Italy's Ilva steel plant would cause trouble with EU: Deputy Econ Min
    Reuters

    Nationalising Italy's Ilva steel plant would cause trouble with EU: Deputy Econ Min

    Nationalising the troubled Ilva steel plant would create problems with the European Commission, and the government should work on a "market solution" if ArcelorMittal pulls out of a contract to take over the site, Italy's Deputy Economy Minister Antonio Misiani said on Tuesday. ArcelorMittal said last week it was withdrawing from a 2018 deal to acquire Ilva's site in the southern city of Taranto, blaming its decision on a government move to scrap immunity from prosecution over environmental damage in the area.

  • ArcelorMittal's (MT) Q3 Earnings and Sales Miss Estimates
    Zacks

    ArcelorMittal's (MT) Q3 Earnings and Sales Miss Estimates

    Lower steel prices and higher raw material costs hurt ArcelorMittal's (MT) Q3 results.

  • Moody's

    ArcelorMittal -- Moody's changes outlook on ArcelorMittal's ratings to negative; affirms Baa3 rating

    Moody's Investors Service ("Moody's") has today affirmed the Baa3 long-term issuer rating of ArcelorMittal ("the group"), the world's largest steel producing company. Concurrently, Moody's affirmed the short-term issuer rating of P-3, the group's senior unsecured instrument rating of Baa3, the P-3 short-term rating on the group's Commercial Paper, the (P)Baa3 senior unsecured rating on its medium-term notes (MTN) programme and senior unsecured shelf, and (P)P-3 other short-term ratings. "We are changing the outlook on ArcelorMittal's ratings to negative, reflecting the group's sharp earnings decline this year in the context of sluggish end-market demand, and deteriorating steel spreads", says Goetz Grossmann, Moody's lead analyst for ArcelorMittal.

  • Reuters

    UPDATE 2-Italy ready for 'legal battle of century' with ArcelorMittal -Conte

    The Italian government will fight ArcelorMittal in the courts if it goes back on a pledge to buy steelmaker Ilva, but Rome still hopes to avoid a bruising legal showdown, Prime Minister Giuseppe Conte said on Thursday. "We would all lose if there were a legal battle, but should it happen, it will be the legal battle of the century," Conte, himself a lawyer, told state television RAI in an interview. ArcelorMittal said this week it was withdrawing from a deal to buy Ilva, blaming its decision on a government move to scrap previous guarantees of legal immunity during a massive clean-up operation at Ilva's huge Taranto plant.

  • Italy ready for 'legal battle of century' with ArcelorMittal - Conte
    Reuters

    Italy ready for 'legal battle of century' with ArcelorMittal - Conte

    The Italian government will fight ArcelorMittal in the courts if it goes back on a pledge to buy steelmaker Ilva, but Rome still hopes to avoid a bruising legal showdown, Prime Minister Giuseppe Conte said on Thursday. "We would all lose if there were a legal battle, but should it happen, it will be the legal battle of the century," Conte, himself a lawyer, told state television RAI in an interview. ArcelorMittal said this week it was withdrawing from a deal to buy Ilva, blaming its decision on a government move to scrap previous guarantees of legal immunity during a massive clean-up operation at Ilva's huge Taranto plant.

  • Trade optimism fuels new four-year high in European stocks
    MarketWatch

    Trade optimism fuels new four-year high in European stocks

    European stocks rose on Thursday for a fifth straight session, getting a boost from a report about the U.S. and China agreeing on how they would remove tariffs.

  • ArcelorMittal Jumps as Earnings Beat Estimates
    Bloomberg

    ArcelorMittal Jumps as Earnings Beat Estimates

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.ArcelorMittal surged the most in more than two years after reporting profit that beat the highest analyst estimate, even as the company lowered its outlook for global steel demand.Citigroup Inc. said steel deliveries in Europe were better than expected, and the higher earnings helped ArcelorMittal reduce its debt levels. Jefferies Group pointed to stronger cost controls as the reason for the profit surprise.The results suggest ArcelorMittal, the world’s biggest steel producer, was able to surpass a lowered bar that analysts had set in a challenging environment for steel. Trade disputes have taken a toll on manufacturing demand, especially in the auto sector, and competition against cheaper imports has left the European steel industry in crisis.ArcelorMittal surged as much as 8.7%, the most since February 2017. The company reported third-quarter earnings before interest, taxes, depreciation and amortization of $1.06 billion, a 61% drop from a year earlier. Analysts had expected $943.2 million.“Expectations were very low going into the third quarter,” said Stijn Demeester, an analyst at ING. “The sky in the steel space isn’t falling down.”Other steelmakers climbed as well. Voestalpine AG added 3.3%. Aperam S.A., a Luxembourg-based producer, gained 2.9%, extending a rally from yesterday when it also beat profit estimates.Despite the cheer from investors today, the outlook for steel still looks grim. ArcelorMittal now sees demand in the U.S. shrinking this year, as buyers reduce stockpiles. It also cut its forecast for Europe and trimmed the top end of the global demand outlook range. Excluding China, consumption is seen flat year-on-year.“Demand in our core markets of Europe and the U.S. has remained weak, reflecting depressed manufacturing activity and continued weakness in automotive, compounded by customer destocking,” the company said.ArcelorMittal now sees European steel consumption dropping by up to 3% this year, the most since 2012.One bright spot in ArcelorMittal’s outlook was China, where the company now expects an increase in consumption of as much as 2% this year. The nation’s real estate demand continues to remain robust, it said.(Updates with other mining stocks.)To contact the reporter on this story: Elena Mazneva in London at emazneva@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Liezel HillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    UPDATE 2-ArcelorMittal beats expectations despite weak U.S., Europe

    ArcelorMittal, the world's largest steelmaker, cut its forecasts for demand in its main U.S. and European markets but reported a higher-than-expected core profit. ArcelorMittal shares were up 8.2% at 15.70 euros at 0720 GMT, making them among the strongest performers in the FTSEurofirst 300 index of top European shares. ArcelorMittal said global steel consumption, including the impact of inventory changes, would grow in 2019 by 0.5-1.0%, towards the lower end of its previous guidance of 0.5-1.5%.

  • ArcelorMittal slips to third-quarter net loss, sees U.S. steel downturn, worse in Europe
    Reuters

    ArcelorMittal slips to third-quarter net loss, sees U.S. steel downturn, worse in Europe

    ArcelorMittal , the world's largest steelmaker, reported a second consecutive quarterly loss on Thursday and cut its forecasts for demand in its main U.S. and European markets. The Luxembourg-based company said global steel consumption, including the impact of inventory changes, would grow in 2019 by 0.5-1.0% this year, towards the lower end of its previous guidance of 0.5-1.5%. Reporting a net loss of $539 million for the third quarter - a second straight quarter in the red - it said it now expected a reduction of U.S. steel demand due to a weak auto sector and a slowdown in demand for machinery, although non-residential construction was healthy.

  • ArcelorMittal swings to net loss in third quarter
    MarketWatch

    ArcelorMittal swings to net loss in third quarter

    The company said that it now expects steel shipments to be stable in 2019 compared with 2018, which it revised from a previous guidance of an increase year-on-year.

  • GlobeNewswire

    ArcelorMittal reports third quarter 2019 and nine months 2019 results

    Luxembourg, November 7, 2019 - ArcelorMittal (referred to as “ArcelorMittal” or the “Company”) (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world’s leading.

  • Financial Times

    ArcelorMittal cuts outlook for global steel demand

    ArcelorMittal has cut its outlook for global steel demand as stalling car sales across the US and Europe hit the world’s largest steelmaker. The Luxembourg-based group forecast European demand would contract 3 per cent in 2019 compared with previous estimates of as little as 1 per cent amid a struggling car industry, slowing demand for machinery, and ongoing trade disputes. “We continued to face tough market conditions in the third quarter, characterised by low steel prices coupled with high raw material costs,” said Lakshmi Mittal, chief executive of ArcelorMittal.

  • Italian PM says ArcelorMittal wants mass layoffs, government rejects demand
    Reuters

    Italian PM says ArcelorMittal wants mass layoffs, government rejects demand

    Steel giant ArcelorMittal wants to cut 5,000 jobs in Italy because of low production levels at its Taranto plant, Italian Prime Minister Giuseppe Conte said on Wednesday, denouncing the plan as "unacceptable". The mooted layoffs at the Ilva steelworks in Taranto came just two days after ArcelorMittal announced that it planned to pull out of a year-old deal to buy the Italian company. ArcelorMittal blamed its decision at time on the government's failure to renew a legal shield it had previously provided which gave the firm immunity from prosecution while it cleaned up the heavily polluting plant.

  • Explainer: ArcelorMittal's Italian venture runs into legal and financial woes
    Reuters

    Explainer: ArcelorMittal's Italian venture runs into legal and financial woes

    ArcelorMittal said this week it was withdrawing from a deal to buy Italy's struggling steel firm Ilva after the government scrapped previous guarantees of legal immunity during an environmental clean-up at its plant. The decision puts at risk thousands of jobs in Italy's underdeveloped south, threatens supply for Europe's second-largest steel consumer, and has led to ructions within the ruling coalition. Here is an explanation of what has gone wrong and why the issue is so important for Italy.

  • Italian government, ArcelorMittal dig in over Ilva row
    Reuters

    Italian government, ArcelorMittal dig in over Ilva row

    Italian Prime Minister Giuseppe Conte said on Tuesday he would not allow ArcelorMittal to pull out of its acquisition of troubled steel plant Ilva, as the threat of huge job losses piled pressure on the government. ArcelorMittal, the world's biggest steelmaker, announced on Monday it was scrapping a deal to buy Ilva's site in the southern city of Taranto after Rome reneged on a pledge to grant immunity from prosecution over environmental damage in the area. The government says the Amsterdam-listed steel group has no basis to withdraw from a contract it finalised last year and has accused the company of using the immunity issue as a pretext to walk away from Ilva because it is running up heavy losses there.

  • ArcelorMittal to hand Ilva plant back to Italian state over legal row
    Reuters

    ArcelorMittal to hand Ilva plant back to Italian state over legal row

    ArcelorMittal said on Monday it was withdrawing from a deal to buy struggling Italian steelmaker Ilva after Rome reneged on a promise to give it immunity from prosecution over its heavily polluting plant. The decision represents a blow to Italy's ruling coalition, which had hoped to dissuade the steel giant from pulling out of the contract, and will raise questions about the country's reliability as a partner for foreign investors. ArcelorMittal reached a deal last year to buy Ilva, which is based in the southern city of Taranto and employs 8,000 workers in a region with one of the highest unemployment rates in Italy.

  • Citi Has Some Bad News for CLF Stock and US Steel
    Market Realist

    Citi Has Some Bad News for CLF Stock and US Steel

    Citi is bearish on iron ore and steel prices, expecting bad news for Cleveland-Cliffs (CLF) and US steel companies. This year, CLF stock is trading almost flat.

  • GlobeNewswire

    AM InvestCo Italy sends withdrawal and termination notice from the lease and purchase agreement for Ilva business

    Today, AM InvestCo Italy (‘the Company’) sent to Ilva’s Commissioners a notice to withdraw from, or terminate, the agreement (‘the Agreement’) for the lease and subsequent conditional purchase of the business of Ilva S.p.A. and certain of its subsidiaries (‘Ilva’), closed on 31 October 2018. The Agreement stipulates that, in the event that a new law affects the environmental plan for the Taranto plant so as to materially impair the ability to operate it or to implement its industrial plan, the Company has a contractual right to withdraw from the Agreement. Effective on 3 November 2019, the Italian Parliament has removed the legal protection necessary for the Company to implement its environmental plan without the risk of criminal liability, thus justifying the withdrawal notice.

  • Financial Times

    ArcelorMittal’s Ilva steelworks at risk after immunity removed

    ArcelorMittal revealed it would hand back control of the lossmaking Ilva business to the Italian authorities, following the removal of a legal protection designed to shield the company and its managers from prosecution while they undertake a clean-up of the heavily polluting facilities. Ilva is based in the southern Italian town of Taranto and employs about 8,000 people in a region with high unemployment. Once controlled by the Riva family, the plant was accused of poisoning local residents with toxic emissions and then nationalised in 2014, before ArcelorMittal agreed to a €1.8bn takeover last year.

  • Moody's

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