BlackRock Inc. raised its holdings in shares of Mechel PAO (NYSE:MTL) by 18.9% in the second quarter, HoldingsChannel reports. The firm owned 1,709,611 shares of the basic materials company’s stock after purchasing an additional 271,583 shares during the period. BlackRock Inc.’s holdings in Mechel PAO were worth $5,350,000 as of its most recent SEC filing.
Separately, Citigroup raised shares of Mechel PAO from a “sell” rating to a “neutral” rating and decreased their target price for the company from $3.25 to $3.00 in a research note on Wednesday, September 19th.
Shares of NYSE MTL opened at $2.73 on Friday. Mechel PAO has a fifty-two week low of $2.30 and a fifty-two week high of $5.60.
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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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