3 Steel Producer Stocks to Watch Amid Pricing Headwinds
Weaker steel prices and the sluggishness in China mar prospects of the Zacks Steel Producers industry. NUE, MT and STLD are well poised to navigate the current challenging environment.
ArcelorMittal South Africa Decides on Winding Down Longs Business
Weak domestic markets for long steel products have led MT's South Africa division to wind down its Longs business.
ArcelorMittal: My 2025 Industrial Pick As European Production Wakes Up
ArcelorMittal is poised for recovery in 2025, driven by improved steel prices, a European market rebound, and strategic M&A activities. Despite 2024 challenges, MT's strong cash position, lower debt, and operational efficiencies justify a buy rating with a target price of $27.5. The European construction and automotive sectors are key growth drivers, supported by anticipated ECB rate cuts and increased consumer purchasing power.
ArcelorMittal & LanzaTech Announce Ethanol Production Milestone
MT's Steelanol factory facility can produce 80 million liters of advanced ethanol per year, which accounts for roughly half of Belgium's current consumption.
ArcelorMittal Stock Could Double And Touch $70
Is ArcelorMittal pricey at six times forward earnings in the coming years? Not at all.
ArcelorMittal Offers Update on Decarbonization Goals for Europe
MT is currently working on engineering works and analyzing a staged strategy that would begin with building electric arc furnaces.
ArcelorMittal delays green transition plans blaming lack of EU support
ArcelorMittal, the world's second largest steelmaker, said it would be delaying plans to replace its coal fired blast furnaces with hydrogen powered facilities, citing a lack of EU support
ArcelorMittal: Low Valuation And Economic Tailwinds Could Lead To A Stock Rebound
ArcelorMittal, a global steel producer, is strategically exiting challenging markets and investing in high-value assets, despite an 11.6% YTD stock decline. Q3 2024 results showed revenue fell 8.5% YoY, but EBITDA exceeded estimates by 15% due to effective cost control. MT stock's low historical multiples and positive earnings revisions suggest a 25% upside potential, supported by macroeconomic tailwinds and shareholder remuneration policies.
ArcelorMittal's Earnings Top Estimates, Revenues Lag in Q3
The decline in MT's sales in Q3 is due to lower average selling prices across segments.
ArcelorMittal upgraded to Buy from Neutral at BofA
BofA upgraded ArcelorMittal to Buy from Neutral with a price target of $32.90, up from $30. The company's earnings are evolving away from Europe as North America has overtaken Europe as ArcelorMittal's single largest source of EBITDA over the past two years, the analyst tells investors in a research note. The firm thinks the company's approach, requiring return and competitive costs, limits potential downside to its cash flows and valuation. BofA changed to a sum-of-the-parts valuation, which resulted in the upgrade.
South African labour union to strike at ArcelorMittal over job cuts
South Africa's metal workers' union said it will go on strike at ArcelorMittal South Africa Ltd on Thursday to protest job cuts that have impacted 107 workers.
ArcelorMittal S.A. (MT) Q3 2024 Earnings Call Transcript
ArcelorMittal S.A. (NYSE:MT ) Q3 2024 Earnings Conference Call November 7, 2024 9:30 AM ET Company Participants Daniel Fairclough – Investor Relations Genuino Christino – Group Chief Financial Officer Conference Call Participants Ephrem Ravi – Citi Alain Gabriel – Morgan Stanley Tom Zhang – Barclays Patrick Mann – Bank of America Andrew Jones – UBS Dominic O'Kane – JPMorgan Boris Bourdet – Boris Bourdet Tristan Gresser – BNP Paribas Matt Greene – Goldman Sachs Max Kogge – Oddo Bastian Synagowitz – Deutsche Bank Daniel Fairclough Great.
