Mechel PAO (NYSE:MTL)‘s stock had its “hold” rating restated by stock analysts at Canaccord Genuity in a note issued to investors on Thursday. They currently have a $16.50 price objective on the basic materials company’s stock. Canaccord Genuity’s target price would indicate a potential upside of 256.37% from the company’s current price.

A number of other equities analysts have also commented on MTL. BidaskClub upgraded shares of Mechel PAO from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. ValuEngine lowered shares of Mechel PAO from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.

Mechel PAO (NYSE MTL) traded up $0.02 during trading hours on Thursday, reaching $4.63. 179,200 shares of the company’s stock were exchanged, compared to its average volume of 220,484. Mechel PAO has a 52-week low of $4.16 and a 52-week high of $6.83. The company has a current ratio of 0.14, a quick ratio of 0.06 and a debt-to-equity ratio of -0.07.

A number of large investors have recently added to or reduced their stakes in MTL. California Public Employees Retirement System lifted its position in shares of Mechel PAO by 23.9% during the third quarter. California Public Employees Retirement System now owns 1,292,420 shares of the basic materials company’s stock worth $6,682,000 after purchasing an additional 249,170 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Mechel PAO by 23.7% during the second quarter. Parametric Portfolio Associates LLC now owns 1,133,098 shares of the basic materials company’s stock worth $5,246,000 after purchasing an additional 216,999 shares in the last quarter. State Street Corp lifted its position in shares of Mechel PAO by 5.3% during the second quarter. State Street Corp now owns 641,907 shares of the basic materials company’s stock worth $2,972,000 after purchasing an additional 32,119 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Mechel PAO by 11.9% during the second quarter. Dimensional Fund Advisors LP now owns 422,249 shares of the basic materials company’s stock worth $1,955,000 after purchasing an additional 44,888 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Mechel PAO by 17,150.3% during the third quarter. JPMorgan Chase & Co. now owns 247,369 shares of the basic materials company’s stock worth $1,269,000 after purchasing an additional 245,935 shares in the last quarter. Hedge funds and other institutional investors own 8.74% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Mechel PAO’s (MTL) Hold Rating Reaffirmed at Canaccord Genuity” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of international copyright & trademark laws. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/12/14/mechel-paos-mtl-hold-rating-reaffirmed-at-canaccord-genuity.html.

About Mechel PAO

Mechel PAO, formerly Mechel OAO, is a holding company. The Company operates in the mining, steel and power industry segments. Its segments include Steel segment, comprising production and sales of semi-finished steel products, carbon and specialty long products, carbon and stainless flat products, and value-added downstream metal products, including forgings, stampings, and hardware, and ferrosilicon; Mining segment, comprising production and sales of coal (coking and steam), and middlings, coke and chemical products, and iron ore, which supplies raw materials to the Steel and Power segments, and also sells raw materials to third parties, and Power segment, comprising generation and sales of electricity and heat power, which supplies electricity and heat power to the Steel and Mining segments, and also sells a portion of electricity and heat power to third parties.

Receive News & Ratings for Mechel PAO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mechel PAO and related companies with MarketBeat.com's FREE daily email newsletter.