Canaccord Genuity reiterated their hold rating on shares of Mechel PAO (NYSE:MTL) in a report issued on Thursday. The firm currently has a $16.50 price objective on the basic materials company’s stock.

MTL has been the topic of a number of other research reports. BidaskClub upgraded shares of Mechel PAO from a hold rating to a buy rating in a research note on Thursday, August 24th. ValuEngine lowered shares of Mechel PAO from a buy rating to a hold rating in a research note on Friday, September 1st.

Mechel PAO (NYSE:MTL) opened at $4.22 on Thursday. The company has a quick ratio of 0.06, a current ratio of 0.14 and a debt-to-equity ratio of -0.07. Mechel PAO has a 52 week low of $4.16 and a 52 week high of $6.83.

Several large investors have recently added to or reduced their stakes in MTL. BNP Paribas Arbitrage SA increased its stake in shares of Mechel PAO by 288.7% in the second quarter. BNP Paribas Arbitrage SA now owns 62,863 shares of the basic materials company’s stock worth $291,000 after acquiring an additional 46,692 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Mechel PAO by 23.7% in 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 acquiring an additional 216,999 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Mechel PAO by 11.9% in the second quarter. Dimensional Fund Advisors LP now owns 422,249 shares of the basic materials company’s stock worth $1,955,000 after acquiring an additional 44,888 shares during the period. State Street Corp increased its stake in shares of Mechel PAO by 5.3% in the second quarter. State Street Corp now owns 641,907 shares of the basic materials company’s stock worth $2,972,000 after acquiring an additional 32,119 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Mechel PAO by 8.0% in the second quarter. Public Employees Retirement System of Ohio now owns 35,300 shares of the basic materials company’s stock worth $163,000 after acquiring an additional 2,600 shares during the period. Hedge funds and other institutional investors own 8.74% of the company’s stock.

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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.

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