The Mechel OAO (MTL) Given Average Recommendation of “Hold” from Analysts

The Mechel OAO (MTL) Given Average Recommendation of “Hold” from Analysts

Shares of Mechel OAO (NYSE:MTL) have been given a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.

Zacks has also assigned Mechel OAO an industry rank of 112 out of 265 based on the ratings given to related companies.

Separately, Summit Redstone initiated coverage on Mechel OAO in a research report on Tuesday, June 28th. They set a “buy” rating and a $10.00 target price for the company.

Mechel OAO (NYSE:MTL) opened at 2.81 on Tuesday. The firm has a 50-day moving average price of $2.62 and a 200-day moving average price of $2.00. Mechel OAO has a 12-month low of $1.23 and a 12-month high of $3.06. The company’s market cap is $584.86 million.

A number of large investors have recently modified their holdings of the stock. California Public Employees Retirement System raised its stake in shares of Mechel OAO by 17.3% in the second quarter. California Public Employees Retirement System now owns 945,850 shares of the company’s stock worth $1,589,000 after buying an additional 139,400 shares during the period. Parametric Portfolio Associates LLC raised its position in Mechel OAO by 19.5% in the second quarter. Parametric Portfolio Associates LLC now owns 807,891 shares of the company’s stock valued at $1,357,000 after buying an additional 131,996 shares during the last quarter. Van ECK Associates Corp raised its position in Mechel OAO by 24.3% in the second quarter. Van ECK Associates Corp now owns 624,403 shares of the company’s stock valued at $1,049,000 after buying an additional 122,231 shares during the last quarter. BlackRock Fund Advisors raised its position in Mechel OAO by 9.0% in the second quarter. BlackRock Fund Advisors now owns 413,740 shares of the company’s stock valued at $695,000 after buying an additional 34,281 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Mechel OAO by 12.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 265,865 shares of the company’s stock valued at $447,000 after buying an additional 28,748 shares during the last quarter. 7.40% of the stock is owned by institutional investors and hedge funds.

Mechel OAO Company Profile

Mechel PAO (Mechel) is a holding company. The Company has operations in Russia, Ukraine, Turkey, Kazakhstan, the United States and Europe. Mechel operates through three segments: mining, steel and power. The mining segment produces metallurgical coal, such as coking coal, pulverized coal injection (PCI) and anthracite, steam coal, iron ore concentrate, coke and limestone.

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