ArcelorMittal (NYSE:MT) Price Target Raised to $69.00 at Wells Fargo & Company

ArcelorMittal (NYSE:MT) had its price objective raised by Wells Fargo & Company from $62.00 to $69.00 in a research note published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the basic materials company’s stock.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. upgraded shares of ArcelorMittal from an “underweight” rating to a “neutral” rating in a report on Friday, July 10th. Weiss Ratings raised shares of ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Citigroup restated a “buy” rating on shares of ArcelorMittal in a research report on Wednesday, May 20th. Santander cut ArcelorMittal from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 21st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of ArcelorMittal in a research report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.40.

ArcelorMittal Price Performance

MT stock opened at $70.08 on Friday. ArcelorMittal has a one year low of $30.17 and a one year high of $72.50. The company’s fifty day moving average price is $66.03 and its 200-day moving average price is $60.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.54 and a current ratio of 1.39. The company has a market capitalization of $54.32 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The firm had revenue of $15.46 billion during the quarter, compared to analyst estimates of $17.04 billion. ArcelorMittal had a net margin of 2.88% and a return on equity of 4.20%. ArcelorMittal’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. On average, equities analysts anticipate that ArcelorMittal will post 4.89 EPS for the current fiscal year.

Institutional Investors Weigh In On ArcelorMittal

A number of hedge funds have recently bought and sold shares of the business. GK Wealth Management LLC bought a new position in ArcelorMittal during the second quarter valued at $408,000. GAMMA Investing LLC increased its holdings in shares of ArcelorMittal by 15.5% in the 2nd quarter. GAMMA Investing LLC now owns 4,333 shares of the basic materials company’s stock worth $261,000 after buying an additional 581 shares during the last quarter. Moody National Bank Trust Division bought a new stake in shares of ArcelorMittal in the 2nd quarter worth about $205,000. Versant Capital Management Inc raised its position in shares of ArcelorMittal by 12.9% during the 2nd quarter. Versant Capital Management Inc now owns 9,513 shares of the basic materials company’s stock valued at $573,000 after buying an additional 1,084 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of ArcelorMittal by 67.5% during the 1st quarter. NewEdge Advisors LLC now owns 21,359 shares of the basic materials company’s stock valued at $1,110,000 after buying an additional 8,607 shares in the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal News Roundup

Here are the key news stories impacting ArcelorMittal this week:

• Positive Sentiment: Management said supportive trade measures aimed at curbing steel imports have improved the outlook for its European business. ArcelorMittal expects second-half sales to outperform the first half, providing a potential catalyst for future earnings. ArcelorMittal Posts Fall in Net Profit But Sees Improved Outlook for European Business
• Positive Sentiment: AM/NS India, ArcelorMittal’s Indian joint venture, reported a 28.5% increase in quarterly EBITDA, helped by higher steel prices. This indicates comparatively strong performance in the Indian business. AM/NS India June-quarter EBITDA rises 28.5% on higher steel prices
• Neutral Sentiment: Wells Fargo raised its price target for MT from $62 to $69 but retained an “equal weight” rating. The new target remains modestly below the recent trading level, signaling limited near-term upside in the analyst’s view. Wells Fargo ArcelorMittal price-target update
• Neutral Sentiment: ArcelorMittal published its 2026 half-year report, giving investors access to detailed financial, operating and regulatory information for the six months ended June 30. ArcelorMittal publishes its 2026 half-year report
• Negative Sentiment: Second-quarter net income fell 62% year over year to $683 million. Adjusted EPS of $0.90 missed the $1.18 consensus estimate, while revenue of $16.76 billion was below expectations of $17.07 billion. EPS also declined from $1.32 in the prior-year quarter, highlighting pressure on profitability despite revenue growth. ArcelorMittal reports second quarter 2026 results

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.