Mechel OAO (NYSE:MTL) was downgraded by research analysts at Deutsche Bank AG from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Mechel OAO (NYSE:MTL) traded down 9.00% during midday trading on Tuesday, reaching $5.66. 561,278 shares of the company’s stock traded hands. Mechel OAO has a 52-week low of $1.23 and a 52-week high of $6.74. The firm’s market cap is $1.18 billion. The firm’s 50-day moving average is $4.80 and its 200 day moving average is $2.69.

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Several institutional investors have recently made changes to their positions in MTL. BlackRock Group LTD boosted its position in shares of Mechel OAO by 4.8% in the third quarter. BlackRock Group LTD now owns 52,563 shares of the company’s stock valued at $150,000 after buying an additional 2,417 shares in the last quarter. Albert D Mason Inc. bought a new position in shares of Mechel OAO during the third quarter valued at about $170,000. BlackRock Institutional Trust Company N.A. boosted its position 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 valued at $447,000 after buying an additional 28,748 shares in the last quarter. BlackRock Fund Advisors boosted its position 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 valued at $695,000 after buying an additional 34,281 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position 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 valued at $1,049,000 after buying an additional 122,231 shares in the last quarter. Institutional investors own 7.06% of the company’s stock.

Mechel OAO Company Profile

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.

5 Day Chart for NYSE:MTL

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