ArcelorMittal (MT) is one of the leading company of the world in the field of steel and mining with a presence in 60 countries. Some of the important steel products of the company include semi-finished flat products, finished flat products, semi-finished long products, finished long products and wire products. Some of the key mining products of the company include iron ore lumps, concretes, sinter feeds and pulverized coal injections.
The stock price of ArcelorMittal during the regular trading on December 13, 2021 saw a decline of 0.034% was $29.22. while at the time of writing, the stock showed a significant rise of 5.58% ($30.85).
Events and Happenings
On December 13, 2021, ArcelorMittal announced that it had jumped into separate, confidentially negotiated repurchase transactions with a limited number of holders of the Company’s 5.50% Mandatorily Convertible Subordinated Notes due 2023. In accordance to the transactions, the Company will repurchase $395 million in aggregate principal amount of the Notes. After the repurchases completion, $608 million total primary amount of the Notes will remain outstanding.
On December 9, 2021, MT reported about its novel venture of US$30 with a carbon recycling company, through its XCarb™ innovation fund. The investment further expands ArcelorMittal’s role as one of the pioneers in carbon capture and re-use technology at its plant in Ghent, Belgium. MT’s flagship carbon capture and re-use technology project costing around €180 million, is also known as Carbalyst® plant.
On 06 December 2021, MT announced that it had received a shareholding notification from Société Générale SA. The notification was made to reflect Société Générale SA’s access into various financial instruments. According to the notification, the threshold of voting rights reached was 5.03% on 1 December 2021
On November 17, 2021, MT reported that it had completed the fourth share buyback program under the approval given by the annual general meeting of shareholders of 8 June 2021. By the close of market on November 16, 2021, MT had repurchased 67,404,066 shares for a total of $2.19 billion.
Key Financials
On November 11, 2021, MT announced resultsfor the third quarter ended September 30, 2021. Some of the key features are
Net Income and Total Assets
Net income of $4.6bn in 3Q 2021 is the highest level since 2008 while for the same quarter of 2020, it was reported to be negative $0.26 billion. The total assets of the company for Q3 2021 were $88.09 million.
Basic and Diluted Earnings (loss)
The basic and diluted loss per common share for Q2 2020 was $0.21 while for Q3 2021, the basic earning per common share was reported to be $4.17 and the diluted earning was $4.16.
Conclusion
As the pre market is showing a positive position of the stock of MT, analysts suggest that the investors will put their trust in the company’s policies and it will pave a way towards future collaborations.
