Mechel OAO (MTL) : Traders are bullish on Mechel OAO (MTL) as it has outperformed the S&P 500 by a wide margin of 4.28% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 13.33%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 13.29% in the last 1 week, and is up 4.68% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Mechel PAO has dropped 5.29% during the last 3-month period . Year-to-Date the stock performance stands at 9.15%. The stock has recorded a 20-day Moving Average of 10.53% and the 50-Day Moving Average is 6.38%.
Mechel OAO (NYSE:MTL): The stock opened at $1.79 on Friday but the bulls could not build on the opening and the stock topped out at $1.84 for the day. The stock traded down to $1.79 during the day, due to lack of any buying support eventually closed down at $1.79 with a loss of -0.56% for the day. The stock had closed at $1.80 on the previous day. The total traded volume was 45,174 shares.
Also, In the latest statement by the brokerage house, Summit Redstone Partners assumes its outlook on Mechel OAO (NYSE:MTL). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm announces the price target at $10 per share. The rating by the firm was issued on June 27, 2016.
Mechel OAO (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. The steel segment produces and sells semi-finished steel products, long products of a range of steel grades, carbon and stainless flat steel products, and metal products, including wire products, stampings and forgings. The power segment consists of its electricity and heat power operations. Mechel has freight seaports in Russia on the Sea of Japan (Port Posiet) and on the Sea of Azov (Port Temryuk), and a freight river port on the Kama River. Mechel also has a fleet of freight railcars, locomotives and long-haul trucks, and operates a rail line to its Elga coal deposit in the Sakha Republic.