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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.