Mechel OAO (NYSE:MTL) shares were up 6.3% during trading on Wednesday . The stock 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 on the stock.

The firm’s market capitalization is $426.91 million. The firm’s 50 day moving average is $1.71 and its 200 day moving average is $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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