Mechel PAO (NYSE:MTL) Stock Passes Above 200 Day Moving Average of $1.97

Mechel PAO (NYSE:MTL) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.97 and traded as high as $1.83. Mechel PAO shares last traded at $1.83, with a volume of 200 shares traded.

Several research firms have issued reports on MTL. ValuEngine upgraded Mechel PAO from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. CIBC upgraded Mechel PAO from a “neutral” rating to an “outperformer” rating and set a $15.00 target price on the stock in a research report on Wednesday, July 3rd. BMO Capital Markets restated a “neutral” rating and issued a $11.00 price target on shares of Mechel PAO in a report on Tuesday, September 10th. Raymond James restated a “buy” rating and issued a $16.00 price target on shares of Mechel PAO in a report on Monday, June 24th. Finally, Canaccord Genuity restated a “neutral” rating and issued a $10.00 price target on shares of Mechel PAO in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $13.00.

The business has a fifty day moving average of $1.88 and a two-hundred day moving average of $1.97.

An institutional investor recently raised its position in Mechel PAO stock. Northern Trust Corp increased its position in Mechel PAO (NYSE:MTL) by 64.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 774,370 shares of the basic materials company’s stock after acquiring an additional 304,735 shares during the period. Northern Trust Corp owned approximately 2.32% of Mechel PAO worth $1,617,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 3.81% of the company’s stock.

Mechel PAO Company Profile (NYSE:MTL)

Mechel PAO, together with its subsidiaries, engages in mining, steel, and power businesses in Russia, Asia, Europe, the Commonwealth of Independent States, the Middle East, the United States, and internationally. Its Mining segment produces and sells coking, metallurgical, and steam coal; coke; chemical products, including coal tar, coal benzene, and other compounds; and iron ore and iron ore concentrates, as well as offers sea, rail, and motor transportation logistics services to third parties.

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