5 Best Steel Stocks to Buy According to Analysts

2. ArcelorMittal (NYSE:MT)

Average Analyst Rating: 1.53

Number of Hedge Fund Holders: 15

Luxembourg-based ArcelorMittal (NYSE:MT) is a leading steel and mining company with a presence in 60 countries and primary steelmaking facilities in 16 countries. The company produced 58.1 million metric tons of crude steel and 42.0 million metric tons of iron ore in 2023.

On February 8, ArcelorMittal (NYSE:MT) released its financial results for Q4 2023. It generated a revenue of $14.6 billion and a net loss of $3.0 billion. The Board of Directors of the company proposed to increase the annual base dividend to shareholders from $0.44 per share to $0.50, subject to the approval of shareholders.

ArcelorMittal (NYSE:MT) also reaffirmed its commitment to return a minimum 50% of post-dividend FCF to shareholders through its share buyback programs.