ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. The company's principal steel products include semi-finished flat products, such as slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes. Its principal mining products comprise iron ore lumps, fines, concentrates, pellets, and sinter feeds; and coking and thermal coal, and pulverized coal injections. The company sells its products to various customers in the automotive, appliance, engineering, construction, energy, and machinery industries through a centralized marketing organization, as well as distributors. It has iron ore mining activities in Brazil, Bosnia, Canada, Kazakhstan, Liberia, Mexico, and Ukraine; and coal mining activities in Kazakhstan. The company was founded in 1976 and is headquartered in Luxembourg City, Luxembourg.
IPO Year:
Exchange: NYSE
Website: corporate.arcelormittal.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/14/2024 | $30.00 → $32.90 | Neutral → Buy | BofA Securities |
| 10/11/2024 | Overweight → Neutral | JP Morgan | |
| 8/28/2024 | $29.00 → $31.00 | Hold → Buy | Deutsche Bank |
| 8/19/2024 | Equal Weight → Overweight | Barclays | |
| 5/9/2024 | Neutral | Goldman | |
| 4/16/2024 | $34.00 → $31.00 | Buy → Hold | Deutsche Bank |
| 12/13/2023 | Neutral → Overweight | JP Morgan | |
| 10/18/2023 | Buy → Neutral | BofA Securities | |
| 4/3/2023 | Overweight → Equal Weight | Barclays | |
| 3/28/2023 | Sell → Buy | UBS |
Luxembourg, November 7, 2024 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company" or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month and nine-month periods ended September 30, 2024. 3Q 2024 key highlights: Safety focus: The Company-wide audit of safety by dss+ is now complete. It has provided the Group with a clear set of 6 recommendations which the Company is committed to implement. LTIF2 rate of 0.88x in 3Q 2024 and 0.68x in 9M 2024 Structurally higher margins and resilient operating results: Despite the challenging market environment, the Company c
ArcelorMittal (‘the Company') today announces the publication of its third quarter 2024 sell-side analyst consensus figures. The consensus figures are based on analysts' estimates recorded on an external web-based tool provided and managed by an independent company, Visible Alpha. To arrive at the consensus figures below, Visible Alpha has aggregated the expectations of sell-side analysts who, to the best of our knowledge, cover ArcelorMittal on a continuous basis. This is currently a group of approximately 15 brokers. The listed sell-side analysts follow ArcelorMittal on their own initiative and ArcelorMittal is not responsible for their views. ArcelorMittal is nei
11 October 2024, 08:30 CET ArcelorMittal (the "Company", "Group") announces it has entered into a definitive Equity Purchase Agreement (the "Agreement") with Nippon Steel Corporation ("NSC") pursuant to which ArcelorMittal will purchase NSC's 50% equity interest in the AM/NS Calvert Joint Venture (the "Transaction"). The Transaction has been entered in to at the request of NSC to address regulatory concerns pursuant to its agreed acquisition of US Steel. The Transaction is subject to NSC completing its pending acquisition of US Steel, which is subject to various other regulatory requirements. Under the terms of the agreement, ArcelorMittal will pay $1 consideration for the Transaction; fur
9 October 2024, 08:00 CET ArcelorMittal (the 'Company' or the 'Group') has today published the recommendations of the comprehensive dss+ workplace safety audit that was commissioned at the end of 2023, against the backdrop of a clear necessity to strengthen Group safety performance. The audit, which was ongoing for nine months across all geographies, functions and levels of the organization, had three main scopes: 1. Fatality prevention standards for the three main occupational risks leading to serious injuries and fatalities (work at heights, vehicle driving and energy isolation); 2. Process safety1 management focused on the highest risk assets; and 3. In depth ass
Additional investments in round led by the OPG Pension Plan, and joined by ArcelorMittal XCarb® Innovation Fund, Ara Partners and other existing investors Utility Global, the off-gas-to-value company pioneering its proprietary eXERO™ gas production technology optimized for hard-to-abate industries, today announced that it has raised $53 million of an ongoing Series C financing led by the OPG Pension Plan and joined by multinational steel company, ArcelorMittal S.A. (NYSE:MT), via its XCarb® Innovation Fund, alongside current investors Ara Partners and Aramco Ventures. This investment is part of Utility Global's current growth equity funding round. ArcelorMittal and Utility Global also ente
Event highlights India's position as world's fastest growing steel market and AM/NS India's vision to become the benchmark for quality, scale and sustainability in Indian steelmaking 25 September 2024, 11:30 CET ArcelorMittal today hosted an investor day at AM/NS India's flagship plant in Hazira, Gujarat. The event provided members of the investment community with the opportunity to witness first-hand the progress AM/NS India – a 60/40 joint venture between ArcelorMittal and Nippon Steel – is making with the first phase of its project to grow steelmaking capacity in Hazira and insight into its long-term vision to reach 40 million tonnes of annual capacity. In addition to the site tour th
06 August 2024, 07:30 CET ArcelorMittal today announces that following the signature of a Share Purchase Agreement on 12 March 2024, and after the approval of relevant antitrust authorities and clearances under foreign investment regulations, it has completed the acquisition of 65,243,206 shares, representing c.28.41% equity interest in Vallourec, for €14.64 per share from funds managed by Apollo Global Management Inc., for a total consideration of approximately €955 million, subject to successful completion of the settlement. Following completion of this transaction, the appointment of Mr. Genuino Magalhaes Christino (Chief Financial Officer, ArcelorMittal) as director of Vallourec will
02 August 2024, 18:00 CET ArcelorMittal (the ‘Company') has today published its half-year report for the six-month period ended 30 June 2024. The report is available on http://corporate.arcelormittal.com/ under Investors > Financial reports > Half-year reports, and on the electronic database of the Luxembourg Stock Exchange (www.bourse.lu/). The report has also been filed on Form 6-K with the U.S. Securities and Exchange Commission (SEC) and is available on http://corporate.arcelormittal.com/ under Investors > Financial reports > SEC filings. ENDS About ArcelorMittal ArcelorMittal is one of the world's leading integrated steel and mining companies with a presence in 60 countries and pr
Luxembourg, August 1, 2024 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company" or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month and six-month periods ended June 30, 2024. 2Q 2024 key highlights: Health and safety focus: Protecting employee health and safety remains the overarching priority of the Company; the Company-wide audit of safety by dss+ remains on track for completion by 3Q 2024 and will support our pathway to zero serious injuries and fatalities; LTIF2 rate of 0.57 in 2Q 2024 and 0.59 in 1H 2024 Resilient operating results: Be
23 July 2024, 16:00 CET ArcelorMittal (‘the Company') today announces the publication of its second quarter 2024 sell-side analyst consensus figures. The consensus figures are based on analysts' estimates recorded on an external web-based tool provided and managed by an independent company, Visible Alpha. To arrive at the consensus figures below, Visible Alpha has aggregated the expectations of sell-side analysts who, to the best of our knowledge, cover ArcelorMittal on a continuous basis. This is currently a group of approximately 15 brokers. The listed sell-side analysts follow ArcelorMittal on their own initiative and ArcelorMittal is not responsible for their views. ArcelorMittal is n
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Luxembourg, November 7, 2024 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company" or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month and nine-month periods ended September 30, 2024. 3Q 2024 key highlights: Safety focus: The Company-wide audit of safety by dss+ is now complete. It has provided the Group with a clear set of 6 recommendations which the Company is committed to implement. LTIF2 rate of 0.88x in 3Q 2024 and 0.68x in 9M 2024 Structurally higher margins and resilient operating results: Despite the challenging market environment, the Company c
Luxembourg, August 1, 2024 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company" or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month and six-month periods ended June 30, 2024. 2Q 2024 key highlights: Health and safety focus: Protecting employee health and safety remains the overarching priority of the Company; the Company-wide audit of safety by dss+ remains on track for completion by 3Q 2024 and will support our pathway to zero serious injuries and fatalities; LTIF2 rate of 0.57 in 2Q 2024 and 0.59 in 1H 2024 Resilient operating results: Be
Luxembourg, May 2, 2024 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company" or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month period ended March 31, 2024. 1Q 2024 key highlights: Health and safety focus: Protecting employee health and wellbeing remains the overarching priority of the Company; the Company-wide audit of safety by dss+ is progressing and will support our pathway to zero serious injuries and fatalities; LTIF2 rate of 0.61x in 1Q 2024Recovering volumes and higher steel spreads supporting improved results: Scope adjusted steel
30 April 2024, 18:15 CET The Annual General Meeting (‘General Meeting') of shareholders of ArcelorMittal held today in Luxembourg approved all resolutions by a strong majority. 78.47% of the voting rights were represented at the General Meeting. The results of the votes will be posted shortly on www.arcelormittal.com under ‘Investors – Equity investors – Shareholders events – AGM – Annual General Meeting of shareholders, 30 April 2024' where the full documentation regarding the General Meeting is available. In particular, the shareholders: Approved the distribution of a dividend of US$0.50 per share;Re-elected Mrs. Karyn Ovelmen and Mr. Clarissa Lins as directors of ArcelorMittal, for a
12 March 2024, 22:00 CET ArcelorMittal (the ‘Company') today announces that it has signed a Share Purchase Agreement to acquire 65,243,206 shares, representing c.28.4% equity interest in Vallourec, for €14.64 per share from Funds managed by Apollo Global Management, Inc., for a total consideration of approximately €955 million. Transaction closing is subject to regulatory approvals and is expected to close in the second half of the year. Having carried out a successful restructuring in recent years, Vallourec presents a compelling opportunity to increase ArcelorMittal's exposure to the attractive, downstream, value-added tubular market. It is a global leader in premium tubular solutions f
Luxembourg, February 8, 2024 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company" or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month and twelve-month periods ended December 31, 2023. 2023 key highlights: Health and safety focus: Protecting employee health and wellbeing remains an overarching priority of the Company; LTIF2 rate of 0.92x in FY 2023 and 0.70x in FY 2022. Performance in 2023 was severely impacted by the tragic Kostenko mine accident on October 28, 2023. The Company has commissioned dss+ to conduct a comprehensive independent Compan
Luxembourg, November 9, 2023 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company" or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month and nine-month periods ended September 30, 2023. Commenting, Aditya Mittal, ArcelorMittal Chief Executive Officer, said: "On October 28, 2023, we suffered a catastrophic accident at the Kostenko coal mine in Kazakhstan that took the lives of 46 colleagues. We mourn their passing and deeply regret the devastation caused to the families of the victims. We are doing everything in our power to support them, and our commun
Luxembourg, July 27, 2023 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month and six-month periods ended June 30, 2023. Key highlights: Health and safety focus: Protecting employee health and wellbeing remains an overarching priority of the Company; LTIF2 rate of 0.73x in 2Q 2023 and 0.70x in 1H 2023 Improved operating results: A positive price-cost effect, offset in part by a marginal sequential decline in steel shipments to 14.2Mt, drove an improvement in 2Q 2023 operating income to $1.9bn (vs. $1.2bn in 1
5 May 2023, 12:00 CET Following publication of the first quarter 2023 results press release dated 4 May 2023 (the ‘ER Press Release')1, ArcelorMittal (the ‘Company') announces the commencement of a new buyback program of up to 85 million shares (the ‘Program') under the authorization given by the annual general meeting of shareholders of 2 May 2023, to be completed by May 2025. The actual amount of shares that will be repurchased pursuant to this new Program will depend on the level of post-dividend Free Cash Flow generated over the period (the Company's defined policy is to return a minimum of 50% of post-dividend annual FCF), the continued authorization by shareholders, and market conditi
Luxembourg, May 4, 2023 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month ended March 31, 2023. 1Q 2023 Key highlights: Health and safety focus: Protecting the health and wellbeing of the employees remains an overarching priority of the Company. Moving to a ‘predict-and-prevent' culture with a particular focus on proactively reporting – and responding to – instances with the specific potential for serious injuries or fatalities (proactive PSIFs)2; L
06 August 2024, 07:30 CET ArcelorMittal today announces that following the signature of a Share Purchase Agreement on 12 March 2024, and after the approval of relevant antitrust authorities and clearances under foreign investment regulations, it has completed the acquisition of 65,243,206 shares, representing c.28.41% equity interest in Vallourec, for €14.64 per share from funds managed by Apollo Global Management Inc., for a total consideration of approximately €955 million, subject to successful completion of the settlement. Following completion of this transaction, the appointment of Mr. Genuino Magalhaes Christino (Chief Financial Officer, ArcelorMittal) as director of Vallourec will
19 March 2024, 10:00 CET ArcelorMittal, the world's leading steel and mining company, today announces that Kleber Silva is nominated Executive Vice President of ArcelorMittal and appointed as Chief Executive Officer of ArcelorMittal Mining, effective 08 April 2024. Kleber will report to Aditya Mittal, Chief Executive Officer of ArcelorMittal and he will be a member of the Group Management Committee. Stefan Buys, who has been the chief executive since October 2021, is leaving the company on 30 March 2024 to pursue other opportunities. Stefan safely advanced ArcelorMittal's mining business in both Liberia and Canada, and facilitated the progression of key projects. ArcelorMittal would like t
24 May 2022, 10:00 CET ArcelorMittal today announces that Stephanie Werner-Dietz will join the company on 1st September 2022 as Executive Vice President and global head of human resources. Bart Wille, who currently holds this position, has decided to retire at the end of this year following a career of 37 years in human resources management. Stephanie joins ArcelorMittal from Nokia, where she is Chief People Officer and a member of the Group Leadership Team. In this position she has responsibility for all people-related topics including human resource management, real estate and health and safety. She recently launched Nokia's new people strategy, which has a strong emphasis on growth, s
BofA Securities upgraded ArcelorMittal from Neutral to Buy and set a new price target of $32.90 from $30.00 previously
JP Morgan downgraded ArcelorMittal from Overweight to Neutral
Deutsche Bank upgraded ArcelorMittal from Hold to Buy and set a new price target of $31.00 from $29.00 previously
Barclays upgraded ArcelorMittal from Equal Weight to Overweight
Goldman initiated coverage of ArcelorMittal with a rating of Neutral
Deutsche Bank downgraded ArcelorMittal from Buy to Hold and set a new price target of $31.00 from $34.00 previously
JP Morgan upgraded ArcelorMittal from Neutral to Overweight
BofA Securities downgraded ArcelorMittal from Buy to Neutral
Barclays downgraded ArcelorMittal from Overweight to Equal Weight
UBS upgraded ArcelorMittal from Sell to Buy
- Reuters
Top Stories for May 22, 2024: 1. Cleveland-Cliffs (NYSE:CLF) refutes allegations from the U.S. Steel (NYSE:X) Board, stating that the company announced an "unclosable deal" that it is now blaming on Cleveland-Cliffs. They present evidence countering its claims of misinformation, highlighting union endorsement and national security concerns echoed by government officials, including President Joe Biden. Cliffs reiterated its unwavering position on the importance of union support and maintaining U.S. Steel’s American ownership. Criticism was directed toward U.S. Steel’s strategic review process, with Cleveland-Cliffs disavowing responsibility for the deal's failure and attrib
- Reuters
Goldman Sachs analyst Matt Greene initiates coverage on ArcelorMittal (NYSE:MT) with a Neutral rating and announces Price Target of $29.6.
Arcelor Mittal NY (NYSE:MT) shares are trading higher on Thursday after reporting first-quarter results. The company reported first-quarter sales of $16.282 billion, beating the analyst consensus of $16.238 billion. The company’s crude steel production remained primarily flat year over year at 14.4 metric tonnes, while steel shipments decreased to 13.5 metric tonnes from 14.5 metric tonnes. The company forecasts world apparent steel consumption to grow by 3% to +4% in 2024, excluding China. Total Group iron ore production in the quarter under review decreased to 10.2 metric tonnes from 10.8 metric tonnes year over year. “We have an exciting pipeline of growth projects underwa
With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Apple Inc. (NASDAQ:AAPL) to report quarterly earnings at $1.50 per share on revenue of $90.01 billion after the closing bell, according to data from Benzinga Pro. Apple shares rose 0.6% to $170.35 in after-hours trading. ArcelorMittal S.A. (NYSE:MT) posted better-than-expected earnings for its first quarter. ArcelorMittal shares gained 0.2% to close at $25.07 on Wednesday. Analysts are expecting ConocoPhillips (NYSE:COP) to post quarterly earnings at $2.04 per share on revenue of $15.05 billion. The company will release earnings
Outlook Overall economic sentiment remains subdued with customers maintaining a "wait and see" approach with no restocking yet apparent. Nevertheless, sentiment appears to have reached a floor and given the low inventory environment (particularly Europe) as soon as real demand begins to gradually improve, apparent demand is expected to rebound. The Company continues to forecast World ex-China apparent steel consumption ("ASC") to grow +3.0% to +4.0% in 2024, including: +1.5% to +3.5% in US; +2.0% to +4.0% in Europe; +0.5% to +2.5% in Brazil and +6.5% to +8.5% in India. The Company remains positive on the medium/long-term steel demand outlook and believes that it is optimally positioned to ex
ArcelorMittal (NYSE:MT) reported quarterly earnings of $1.16 per share which beat the analyst consensus estimate of $0.92 by 26.09 percent. This is a 9.38 percent decrease over earnings of $1.28 per share from the same period last year. The company reported quarterly sales of $16.282 billion which beat the analyst consensus estimate of $16.238 billion by 0.27 percent. This is a 11.99 percent decrease over sales of $18.501 billion the same period last year.