Zacks: Mechel OAO (MTL) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Mechel OAO (NYSE:MTL) have been given an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, 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 108 out of 265 based on the ratings given to related companies.
Separately, Summit Redstone initiated coverage on shares of Mechel OAO in a research note on Tuesday, June 28th. They issued a “buy” rating and a $10.00 price objective on the stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTL. California Public Employees Retirement System raised its position in 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. 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 worth $695,000 after buying an additional 34,281 shares during the period. 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 worth $447,000 after buying an additional 28,748 shares during the period. 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 worth $1,049,000 after buying an additional 122,231 shares during the period. Finally, 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 worth $1,357,000 after buying an additional 131,996 shares during the period. 7.40% of the stock is currently owned by hedge funds and other institutional investors.
Mechel OAO (NYSE:MTL) opened at 2.84 on Tuesday. The firm’s market cap is $591.10 million. Mechel OAO has a 52 week low of $1.23 and a 52 week high of $3.06. The company has a 50-day moving average of $2.64 and a 200-day moving average of $2.00.
About Mechel OAO
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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