Nucor Corporation Surges to 71st in Trading Volume with $902 Million in Shares Exchanged

On June 2, 2025, Nucor Corporation (NUE) saw a significant surge in trading volume, with a total of $902 million in shares exchanged, marking a 132.42% increase from the previous day. This surge placed Nucor at the 71st position in terms of trading volume for the day. The stock price of Nucor rose by 10.10%, marking the third consecutive day of gains, with a total increase of 10.62% over the past three days.

BMO Capital Markets has upgraded Nucor Corporation to an "outperform" rating from "market perform," citing the company's compelling valuation and long-term growth potential amidst recent U.S. steel tariffs. The firm highlighted Nucor's multi-year organic growth strategy, which includes expanding capacity and product capabilities, as a key driver for stronger profitability and free cash flow. BMO has raised its price target for Nucor to $145, reflecting a higher valuation multiple.

BMO Capital Markets emphasized several strategic investments by Nucor, including a new 3 million tons per year sheet mill in West Virginia, rebar expansion projects in Lexington and the Pacific Northwest, and added galvanizing capacity expected to reach 1 million tons per year by 2027. These projects are estimated to contribute between $1.5 billion and $2.0 billion in incremental EBITDA once fully operational. Additionally, Nucor's relatively low mill utilization rate of 80% in the first quarter, compared to 89% for its closest peer, presents potential volume upside.

Nucor's diversified product mix, which includes structural and coated products, is well-positioned to benefit from the Biden administration's proposed doubling of steel tariffs. While the tariff environment remains fluid, the policy shift could provide additional upside to Nucor's growth trajectory if maintained. BMO noted that Nucor shares have underperformed year-to-date compared to its peers, but the current discount presents an attractive risk-reward opportunity.