|Bid||21.17 x 3100|
|Ask||21.18 x 800|
|Day's Range||21.14 - 21.60|
|52 Week Range||19.50 - 37.50|
|Beta (3Y Monthly)||2.65|
|PE Ratio (TTM)||4.37|
|Earnings Date||Feb 21, 2017 - Feb 27, 2017|
|Forward Dividend & Yield||0.10 (0.45%)|
|1y Target Est||37.00|
ArcelorMittal's prolonged bid to buy debt-ridden Essar Steel is delaying the world's biggest steelmaker's joint venture with state-owned Steel Authority of India Ltd (SAIL), India's steel minister and SAIL's chairman said. India's biggest state-owned steel company SAIL and billionaire Lakshmi Mittal-controlled ArcelorMittal signed a deal in May 2015 to set up a steel plant to produce automotive grade steel.
Can Cleveland-Cliffs Stock Continue Outperforming Peers in 2019?(Continued from Prior Part)Cleveland-Cliffs’ valuationAmong major US (SPY) steel stocks (XME), U.S. Steel (X) and ArcelorMittal (MT) are trading at the lowest forward EV-to-EBITDA
Can Cleveland-Cliffs Stock Continue Outperforming Peers in 2019?(Continued from Prior Part)Analyst sentiment Many analysts turned positive on Cleveland-Cliffs (CLF) stock in 2018. While at the beginning of March 2018, only 30% of the analysts
The billionaire Ruia brothers have used every trick in the book to ensure their prized asset stays in the family, despite owing financial creditors 508 billion rupees ($6.3 billion) in unpaid dues. Just as the process was crawling to a conclusion, with the lenders accepting ArcelorMittal’s 420 billion rupee bid for the 10 million tons-a-year steel plant, an unexpected wrinkle has emerged.
ArcelorMittal SA (MT.AS), the world's largest steelmaker, is set to build its first-ever desalination unit in Brazil to handle unforeseen water needs at its plant in the eastern state of Espírito Santo, senior company executives said in an interview on Friday. The unit is aimed at lessening the company's dependence on state water utility company Cesan and avoiding production cuts at times of water crises as the state suffered in 2015 and 2016, said Jorge Ribeiro, president of operations at ArcelorMittal's Brazilian flat steel division. While the plant is ArcelorMittal's first, desalination facilities have already become fixtures at some rival steelmakers and multiple mining operations, which tend to be water-intensive.
ArcelorMittal SA, the world's largest steelmaker, is set to build its first-ever desalination unit in Brazil to handle unforeseen water needs at its plant in the eastern state of Espírito Santo, senior company executives said in an interview on Friday. The unit is aimed at lessening the company's dependence on state water utility company Cesan and avoiding production cuts at times of water crises as the state suffered in 2015 and 2016, said Jorge Ribeiro, president of operations at ArcelorMittal's Brazilian flat steel division. While the plant is ArcelorMittal's first, desalination facilities have already become fixtures at some rival steelmakers and multiple mining operations, which tend to be water-intensive.
Can Cleveland-Cliffs Stock Continue Outperforming Peers in 2019?(Continued from Prior Part)US steel prices One of the factors driving the weakness in US (IVV)(SPY) steel companies’ stock prices and Cleveland-Cliffs’s (CLF) stock price in
US Steel Stocks: Analysts' Expectations in 2019(Continued from Prior Part)U.S. Steel CorporationU.S. Steel Corporation (X) is scheduled to release its fourth-quarter earnings on January 30. The company would hold its earnings call the next day. The
The issuance closed today. The Notes were issued under ArcelorMittal’s €10 billion wholesale Euro Medium Term Notes Programme. The proceeds of the issuance will be used for general corporate purposes.
On CNBC's "Mad Money Lightning Round" , Jim Cramer said Dynavax Technologies Corporation (NASDAQ: DVAX ) is too low to sell, but he doesn't have a catalyst. Instead of ArcelorMittal SA (NYSE: ...
In this article, we’ll do a comparative analysis of steel companies’ valuations based on forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization). U.S. Steel (X) has a forward EV-to-EBITDA of 2.9x its 2019 consensus EBITDA and 3.4x its 2020 consensus EBITDA. The stock’s forward valuation multiples are the lowest among the steel stocks that we’re covering in this series.
CLF: Why Jim Cramer Is Worried about This 'Best-in-Show' Stock ## Jim Cramer: CLF is ‘Best-in-Show’ company Yesterday, Jim Cramer, the Mad Money host, answered caller’s questions regarding Cleveland-Cliffs (CLF) stock. He said, “The company’s best in show, but I’ve got to tell you, the stock is not going to be a good stock if the Fed tightens again. I don’t think they’re going to in the near future, but I’ve got to tell you, it makes me nervous.” ## Fed’s rate hike chances bleak On January 4, Fed Chair Jerome Powell said that the Fed could be more patient with its policy stance if needed. Yesterday, he again stressed that the Fed could be patient while approving further hikes, as it continues to monitor the gauges of the US economy (SPY). These two back-to-back appearances from the Fed chair with dovish statements have assured markets that the Fed will not take any surprise action on rate hikes. The markets have been quite relieved with this stance from the Fed as well as from the recently concluded US-China trade talks. ## Cleveland-Cliffs’ fundamentals While Cleveland-Cliffs stock rose by 6.7% in 2018, it plunged 39% in the last quarter alone. This, however, had more to do with the overall risk-off sentiment and the slowdown concerns of China rather than anything related to CLF itself. As compared to CLF’s positive price action, its US peers (DIA) (IVV), AK Steel (AKS), U.S. Steel (X), ArcelorMittal (MT), Steel Dynamics (STLD), and Nucor (NUE) reported returns of -60%, -48%, -36%, -30%, and -18%, respectively, for 2018. Cleveland-Cliffs’ fundamentals have been improving since its new management took over in 2014. Its non-core assets have sold off with the seaborne operations being the last, which took a lot of volatility out of the stock. Its debt concerns have been laid to rest. Moreover, the company is solidly marching on its growth path with the ongoing construction of an HBI (hot briquetted iron) plant. As we argued in Why Now Might Be a Good Time to Look Again at Cleveland-Cliffs, CLF is attractively valued based on its multiple relative to its peers and its historical valuation. See Revisiting the Case: How Does Cleveland-Cliffs Look Now? for an in-depth analysis of CLF’s fundamentals and valuations.
Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? (Continued from Prior Part) ## China’s slowdown China is the world’s largest steel producer, consumer, as well as exporter. Over the last few months, we’ve seen a flurry of soft economic data from China (FXI). From the perspective of steel companies (MT), the slowdown has been quite significant in the real estate and automotive sectors, which happen to be the two largest steel end consumers. ## Stimulus While China has been talking about monetary and fiscal policy initiatives to lift its economy, it has shied away from stimulus for the housing and automotive sectors. As for the housing sector, it seems quite unlikely that China would look at a specific package, as the country has been trying to address property speculation. However, a relief package for the automotive sector might still be expected. In 2015 also, China had lowered its purchase tax on cars to provide a boost to sagging vehicle sales. The purchase tax was gradually increased and was restored at the original level of 10% last year. ## Demand As Chinese steel demand has faltered, Chinese steel prices have come under pressure. Falling Chinese steel prices have had a domino effect on global as well as US steel prices. Now, while China’s slowdown is a known factor, the steps taken by China to bolster its economy could drive steel prices this year. Investors in US steel and iron ore companies like U.S. Steel (X), AK Steel (AKS), and Cleveland-Cliffs (CLF) should closely follow the policy steps taken by the Chinese government including its supply-side reforms. Meanwhile, even with the known headwinds, US steel stocks might look attractive from a valuation standpoint. We’ll discuss this more in the next and final article. Continue to Next Part Browse this series on Market Realist: * Part 1 - Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? * Part 2 - Are We Seeing a Typical Dead Cat Bounce from Steel Stocks? * Part 3 - What Should US Steel Investors Watch Out for in 2019?
Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? (Continued from Prior Part) ## US steel investors 2019 has started on a positive note for US steel stocks like U.S. Steel (X), Nucor (NUE), and AK Steel (AKS). In this article, we’ll see what US steel investors should watch out for this year after a strong start to the year. ## Domestic factors The demand-supply equation could be a key driver of US steel prices (MT). Over the last couple of months, US steel demand indicators, particularly from the housing and automotive sectors, have shown signs of moderating growth. On the supply side, US steel production has been on an uptrend on domestic capacity restarts. So far, incremental supply hasn’t negatively impacted the supply situation, as it has been accompanied by a fall in imports. However, it will be crucial to see how the imports situation unfolds this year. ## China Steel investors (CLF) are also closely watching China’s slowdown. Chinese steel prices came under pressure last year amid weak demand from the real estate and automotive sectors. The steps taken by the Chinese government to arrest the growth slowdown could impact Chinese as well as US steel prices. This year, we could see the Trump administration move forward on new trade deals. This could also mean Section 232 exemptions for more countries. From steel companies’ perspective, it would be crucial that the exemptions are accompanied with a quota. Finally, Trump’s policies on the proposed infrastructure investments could be a key driver for steel companies this year. We’ll discuss these drivers in detail in the coming articles. Continue to Next Part Browse this series on Market Realist: * Part 1 - Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? * Part 2 - Are We Seeing a Typical Dead Cat Bounce from Steel Stocks? * Part 4 - Are Steel Oversupply Concerns Unfounded?
Luxembourg, 2 January 2019 - With reference to Article 19(3) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse.
A look at the shareholders of ArcelorMittal (AMS:MT) can tell us which group is most powerful. Large companies usually have institutions as shareholders, and we usually see insiders owning shares Read More...
(Reuters) - Steel Authority of India Ltd (SAIL) wants to sign JV agreement with ArcelorMittal next month, SAIL's chairman said on Friday. Higher input costs mean no scope for a cut in local steel prices, ...
Why Now Might Be a Good Time to Look Again at Cleveland Cliffs(Continued from Prior Part)Analyst sentiment Cleveland-Cliffs (CLF) stock has seen a turn in fortunes, as far as analyst sentiment is concerned, since March.
Among US (SPY) steel stocks (XME), U.S. Steel Corporation (X) and ArcelorMittal (MT) are trading at the lowest forward EV-to-EBITDA multiples of 2.5x and 3.5x, respectively. Cleveland-Cliffs (CLF), on the other hand, is trading at the highest multiple of 5.3x. Nucor (NUE) and Steel Dynamics (STLD) follow with multiples of 5.2x and 4.4x, respectively.
Why Now Might Be a Good Time to Look Again at Cleveland Cliffs(Continued from Prior Part)US steel prices One of the factors driving the weakness in US (IVV)(SPY) steel companies’ stock prices and Cleveland-Cliffs’s (CLF) stock price, in particular, is the falling spot steel prices domestically.
US steel stocks have had a weak 2018 despite the Trump administration’s tariffs on imported steel products. Investors don’t seem to be turning to steel stocks despite the protection they enjoy from higher tariffs. Most steel stocks are trading with year-to-date (or YTD) declines. AK Steel (AKS) tops the list with a YTD decline of 57% as of December 20. U.S. Steel (X), ArcelorMittal (MT), Steel Dynamics (STLD), and Nucor (NUE) follow with declines of 47%, 34%, 30%, and 19%, respectively.
With a closing price of $21.20 on Thursday, shares of ArcelorMittal SA (MT) were almost flat from the previous trading day. The agreement also allows ArcelorMittal to prolong the maturity through the end of 2025. Warning! GuruFocus has detected 1 Warning Sign with MT.
Is ArcelorMittal (NYSE:MT) a good equity to bet on right now? We like to check what the smart money thinks first before doing extensive research. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for known risk attributes. It’s […]