Mechel OAO (NYSE:MTL) saw strong trading volume on Thursday . 231,376 shares traded hands during mid-day trading, an increase of 35% from the previous session’s volume of 172,026 shares.The stock last traded at $2.13 and had previously closed at $2.10.

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

The stock’s market capitalization is $437.08 million. The firm has a 50 day moving average of $1.71 and a 200 day moving average of $1.80.

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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