Mechel OAO (NYSE:MTL) was up 3.8% during mid-day trading on Wednesday . The company traded as high as $2.76 and last traded at $2.76, with a volume of 438,479 shares changing hands. The stock had previously closed at $2.66.

Separately, Summit Redstone started coverage on Mechel OAO in a research report on Tuesday, June 28th. They set a “buy” rating and a $10.00 price target for the company.

The company’s market cap is $572.37 million. The company has a 50-day moving average price of $2.05 and a 200 day moving average price of $1.87.

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Several large investors have recently made changes to their positions in MTL. BlackRock Institutional Trust Company N.A. increased its stake in shares of Mechel OAO by 12.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 265,865 shares of the company’s stock worth $447,000 after buying an additional 28,748 shares during the period. BlackRock Fund Advisors increased its stake in shares of Mechel OAO by 9.0% in the second quarter. BlackRock Fund Advisors now owns 413,740 shares of the company’s stock worth $695,000 after buying an additional 34,281 shares during the period. Van ECK Associates Corp increased its stake in shares of Mechel OAO by 24.3% in the second quarter. Van ECK Associates Corp now owns 624,403 shares of the company’s stock worth $1,049,000 after buying an additional 122,231 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Mechel OAO by 19.5% in the second quarter. Parametric Portfolio Associates LLC now owns 807,891 shares of the company’s stock worth $1,357,000 after buying an additional 131,996 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Mechel OAO by 17.3% in the second quarter. California Public Employees Retirement System now owns 945,850 shares of the company’s stock worth $1,589,000 after buying an additional 139,400 shares during the period. Institutional investors own 7.40% of the company’s stock.

Mechel OAO Company Profile

Mechel PAO (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.

5 Day Chart for NYSE:MTL

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