Raymond James Reaffirms Strong-Buy Rating for Mechel PAO (NYSE:MTL)

Mechel PAO (NYSE:MTL)‘s stock had its “strong-buy” rating restated by equities researchers at Raymond James in a report issued on Thursday, BayStreet.CA reports. They presently have a $12.50 price objective on the basic materials company’s stock.

MTL has been the topic of several other research reports. Canaccord Genuity reissued a “neutral” rating and set a $10.00 target price on shares of Mechel PAO in a research note on Friday, August 16th. BMO Capital Markets restated a “neutral” rating and set a $11.00 price target on shares of Mechel PAO in a report on Tuesday, September 10th. CIBC upgraded Mechel PAO from a “neutral” rating to an “outperformer” rating and set a $15.00 price target on the stock in a report on Wednesday, July 3rd. Finally, ValuEngine upgraded Mechel PAO from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.13.

MTL opened at $1.86 on Thursday. The stock’s 50-day moving average price is $1.90 and its 200 day moving average price is $1.96. Mechel PAO has a 12-month low of $1.53 and a 12-month high of $2.97.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp increased its holdings in shares of Mechel PAO by 64.9% in the 2nd quarter. Northern Trust Corp now owns 774,370 shares of the basic materials company’s stock valued at $1,617,000 after acquiring an additional 304,735 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Mechel PAO by 0.4% in the 2nd quarter. BlackRock Inc. now owns 2,150,404 shares of the basic materials company’s stock valued at $4,494,000 after acquiring an additional 9,055 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Mechel PAO by 50.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 26,691 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 8,954 shares during the last quarter. Institutional investors own 3.81% of the company’s stock.

Mechel PAO Company Profile

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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