Mechel PAO (NYSE:MTL) Shares Gap Down to $3.51

Mechel PAO (NYSE:MTL)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $3.51, but opened at $3.36. Mechel PAO shares last traded at $3.34, with a volume of 180 shares traded.

A number of equities analysts recently commented on the stock. Raymond James upgraded shares of Mechel PAO to an “outperform” rating and set a $14.50 target price for the company in a research note on Monday, December 6th. Royal Bank of Canada lowered their target price on shares of Mechel PAO from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, October 29th.

The business’s 50 day moving average is $3.23 and its 200 day moving average is $3.21.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ground Swell Capital LLC acquired a new position in Mechel PAO in the second quarter valued at $34,000. Intrua Financial LLC acquired a new position in Mechel PAO in the third quarter valued at $45,000. Mercer Global Advisors Inc. ADV acquired a new position in Mechel PAO in the third quarter valued at $46,000. Ergoteles LLC acquired a new position in Mechel PAO in the second quarter valued at $53,000. Finally, Virtu Financial LLC acquired a new position in Mechel PAO in the second quarter valued at $74,000.

About Mechel PAO (NYSE:MTL)

Mechel PAO is a holding company, which engages in the mining and production of coal and steel, iron core, and nickel products. It operates through the following business segments: Steel, Mining, and Power. The Steel segment sells semi-finished steel products, long products of a wide range of steel grades, carbon and stainless flat steel products, and high value-added metal products.

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