Dallas, Texas 05/12/2014 (FINANCIALSTRENDS) –ArcelorMittal SA (ADR) (NYSE:MT), the leading integrated steel & mining company, in the world, announced results for the 3 month period that ended 31 March 2014.
The Highlights
EBITDA/t rose in all the steel segments with an exception of the NAFTA that was very negatively impacted by the extreme weather. ArcelorMittal SA (ADR) (NYSE:MT) reported a net loss of $0.2B in Q1 2014 in comparison to the net loss of $0.3B in the Q1 2013. Steel shipments were 21.0Mt, a rise of 2.4% in comparison to the 1Q 2013.
It reported 14.8 Mt own iron-ore production in comparison to the 13.1 Mt in the Q1 2013. It reported that 9.3 Mt was shipped & reported at the market prices in comparison to 7.3 Mt in the Q1 2013
Analysts speak
Recently, numerous analysts have weighed on the company stock. Zacks analysts have downgraded the ArcelorMittal SA (ADR) (NYSE:MT), shares from a “neutral” to an “underperform” rating in the research note on April 14th. They currently have a price target of $15.00 on the stock. On the ratings-front, Credit Suisse analysts have downgraded the company’s shares from an “outperform” to a “neutral” rating in the research note on April 2nd. They currently have set a price target of $17.00 on the stock, down from the previous $20.00. Finally, the analysts at the Kepler Capital Markets have downgraded the company’s shares from a “hold” to a “reduce” rating in the research note on March 25th.
Seven investment-analysts have assigned a “sell” rating to the stock and 5 have assigned a “hold” rating while 6 have set a “buy” rating. Currently, the company has an average rating of “hold” and the average price target is $18.60. ArcelorMittal SA (ADR) (NYSE:MT) is an international steel producer. In the year that ended Dec 31, 2010, it had steel shipments of around 85M tons & crude steel production of around 90.6 million tons.
