Zacks: Mechel PAO (NYSE:MTL) Receives Consensus Recommendation of “Buy” from Brokerages

Mechel PAO (NYSE:MTL) has been given a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Mechel PAO’s rating score has improved by 33.3% from 90 days ago as a result of various analysts’ ratings changes.

Brokerages have set a one year consensus price objective of $2.70 for the company, according to Zacks. Zacks has also given Mechel PAO an industry rank of 225 out of 256 based on the ratings given to its competitors.

MTL has been the subject of a number of research analyst reports. Canaccord Genuity restated a “neutral” rating and issued a $10.00 target price on shares of Mechel PAO in a research note on Friday, August 16th. ValuEngine upgraded Mechel PAO from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 22nd. Raymond James restated a “buy” rating and issued a $16.00 target price on shares of Mechel PAO in a research note on Monday, June 24th. Finally, CIBC upgraded Mechel PAO from a “neutral” rating to an “outperformer” rating and set a $15.00 target price for the company in a research note on Wednesday, July 3rd.

MTL traded up $0.06 on Thursday, hitting $1.68. 8,547 shares of the company were exchanged, compared to its average volume of 73,090. Mechel PAO has a 12 month low of $1.53 and a 12 month high of $3.42. The firm has a fifty day simple moving average of $1.94 and a two-hundred day simple moving average of $2.07.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Mechel PAO by 0.4% during the 2nd quarter. BlackRock Inc. now owns 2,150,404 shares of the basic materials company’s stock valued at $4,494,000 after buying an additional 9,055 shares during the last quarter. Northern Trust Corp raised its stake in shares of Mechel PAO by 64.9% during the 2nd quarter. Northern Trust Corp now owns 774,370 shares of the basic materials company’s stock valued at $1,617,000 after buying an additional 304,735 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Mechel PAO by 6.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 537,746 shares of the basic materials company’s stock valued at $1,066,000 after buying an additional 31,153 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Mechel PAO by 13.3% during the 4th quarter. Bank of America Corp DE now owns 392,926 shares of the basic materials company’s stock valued at $778,000 after buying an additional 46,053 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Mechel PAO by 38.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 72,757 shares of the basic materials company’s stock valued at $144,000 after buying an additional 20,110 shares during the last quarter.

About Mechel PAO

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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