Mechel OAO (MTL) Trading Up 6.3%
Shares of Mechel OAO (NYSE:MTL) were up 6.3% during trading on Wednesday . The company traded as high as $2.10 and last traded at $2.03, with a volume of 368,475 shares changing hands. The stock had previously closed at $1.91.
Separately, Summit Redstone started coverage on Mechel OAO in a research report on Tuesday, June 28th. They issued a “buy” rating and a $10.00 price objective for the company.
The company’s 50 day moving average price is $1.72 and its 200-day moving average price is $1.81. The firm’s market capitalization is $437.08 million.
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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