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. The company's Steel segment produces and sells semi-finished steel products, long steel products, and carbon and stainless flat products; ferrosilicon products; and pig iron, as well as metal products, including wire products, stampings and forgings, structural shapes, beams, and rails. Its Power segment generates and supplies electricity, heat energy, and other power resources to third parties. Mechel PAO also offers sea, rail, and motor transportation logistics services to third parties. The company was formerly known as Mechel OAO and changed its name to Mechel PAO in March 2016. Mechel PAO was incorporated in 2003 and is based in Moscow, Russia.
IPO Year: 2004
Exchange: NYSE
Website: mechel.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/6/2021 | $14.50 | Market Perform → Outperform | Raymond James |
| 10/29/2021 | $15.00 → $14.00 | Outperform | RBC Capital |
MOSCOW, RUSSIA / ACCESSWIRE / August 30, 2021 / Mechel PAO ((MOEX: MTLR, NYSE:MTL), one of the leading Russian mining and metals companies, reports the appointment of Andrey Pasynich as chief executive officer of Mechel Mining Management Company OOO. He replaces Igor Khafizov who left the company."Andrey is a real mining professional, he proved it with his achievements. We now aim to consolidate Mechel's position on the domestic and international coal markets and use our mining facilities' potential, put in by the previous chief Igor Khafizov, to maximum efficiency. I sincerely wish Andrey success on this new position of trust."Igor Khafizov made an invaluable contribution to Mechel Group's
Raymond James upgraded Mullen Group from Market Perform to Outperform and set a new price target of $14.50
RBC Capital reiterated coverage of Mullen Group with a rating of Outperform and set a new price target of $14.00 from $15.00 previously
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MOSCOW, RUSSIA / ACCESSWIRE / May 31, 2022 / Mechel PAO (NYSE:MTL)(MOEX:MTLR), a leading Russian mining and metals company, announces the decisions made by its Board of Directors at a meeting held on May 30, 2022.The Board of Directors made the following recommendations to the general meeting of Mechel PAO's shareholders:to elect to Mechel PAO's Board of Directors:Igor V. ZyuzinOleg V. KorzhovGeorgy G. PetrovAlexander N. KotskyAlexander D. OrishchinIrina N. IpeevaYuriy N. MalyshevIvan F. GlumovNelli R. Galeevanot to pay an annual dividend with respect to both ordinary and preferred shares.The annual general meeting of shareholders will be held on June 30, 2022 by absentee balloting.Filled vo
MOSCOW, RUSSIA / ACCESSWIRE / March 1, 2022 / Mechel PAO (MOEX:MTLR)(NYSE:MTL), a leading Russian mining and steel group, announces financial results for the FY 2021.Consolidated Results for the FY'2021Mechel PAO's Chief Executive Officer Oleg Korzhov commented:"The Group's consolidated revenue in 2021 amounted to 402.1 billion rubles, up by 51% year-on-year. EBITDA was 118.9 billion rubles, demonstrating a 190% growth year-on-year. EBITDA margin was 30%, doubling the EBITDA margin of 2020."Favorable trends on steel and metallurgical commodity markets was the key driver for the improvement of the Group's financial results. On average, the prices for our facilities' steel products went up by
MOSCOW, RUSSIA / ACCESSWIRE / November 18, 2021 / Mechel PAO ((MOEX:MTLR, NYSE:MTL), a leading Russian mining and steel group, announces financial results for the 3Q 2021 and 9M 2021.Consolidated Results for the 3Q'2021 and 9M'2021Mechel PAO's Chief Executive Officer Oleg Korzhov commented:The Group's consolidated revenue in 3Q2021 amounted to 102.9 billion rubles, down 5% quarter-on-quarter. EBITDA was 31.9 billion rubles, also down 5% quarter-on-quarter. EBITDA margin remained at 31%."The decrease in our steel division's financial results made the main influence on the dynamics of the Group's results. This year's third quarter was characterized by weaker trends on the steel market. As expo
MOSCOW, RUSSIA / ACCESSWIRE / August 27, 2021 / Mechel PAO ((MOEX:MTLR, NYSE:MTL), a leading Russian mining and steel group, announces financial results for the 2Q 2021 and 1H 2021.CONSOLIDATED RESULTS FOR THE 2Q'2021 AND 1H'2021Mechel PAO's Chief Executive Officer Oleg Korzhov commented:"The Group's consolidated revenue in 2Q'2021 amounted to 108.9 billion rubles, up by 43% quarter-on-quarter. EBITDA was 33.7 billion rubles, up by 85% quarter-on-quarter. EBITDA margin reached 31%."Improved results were due to an increase in prices on the Group's nearly entire product range, both in the mining and the steel division. Given the favorable market trends, our enterprises increased sales on numer
MOSCOW, RUSSIA / ACCESSWIRE / August 17, 2021 / Mechel PAO (NYSE:MTL, MOEX:MTLR))), a leading Russian mining and metals company, reports paying dividends to holders of its privileged shares based on the company's results for 2020.Mechel PAO has accrued a total of 162.3 million rubles for dividend payment to holders of its privileged shares. The dividend amount per one privileged share was 1.17 rubles.***Mechel PAOEkaterina VidemanTel: + 7 495 221 88 [email protected]***Mechel is an international mining and steel company. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferro
MOSCOW, RUSSIA / ACCESSWIRE / June 28, 2021 / Mechel PAO (NYSE:MTL, MOEX:MTLR))), a leading Russian mining and metals company, announces the decisions made by the annual general shareholder meeting held on June 25 by correspondence.The shareholders decided on the following:not to pay an annual dividend with respect to ordinary shares;to pay an annual dividend of 1.17 rubles per one preferred share;to make the list of persons entitled to receive dividends for preferred shares based on the data in the Mechel PAO Shareholders' Register as of July 13, 2021. The payments are to be made by bank transfer in accordance with current Russian law;to allocate 162,345,590.55 rubles for payment of dividen
MOSCOW, RUSSIA / ACCESSWIRE / May 25, 2021 / Mechel PAO (NYSE:MTL, MOEX: MTLR))), a leading Russian mining and metals company, announces the decisions made by its Board of Directors at a meeting held on May 24, 2021.The Board of Directors made the following recommendations to the general meeting of Mechel PAO's shareholders:not to pay an annual dividend with respect to ordinary shares;to pay an annual dividend of 1.17 rubles per one preferred share.The list of persons entitled to receive dividends for 2020 will be made based on the data in the Mechel PAO Shareholders' Register as of July 13, 2021.The Board of Directors also recommended the general meeting of Mechel PAO's shareholders to appr
Consolidated revenue - 76.0 bln rubles (+13% compared to 1Q 2020)EBITDA[*]- 18.2 bln rubles (+39% compared to 1Q 2020)Profit attributable to equity shareholders of Mechel PAO - 7.9 bln rublesMOSCOW, RUSSIA / ACCESSWIRE / May 20, 2021 / Mechel PAO ((MOEX:MTLR, NYSE:MTL), a leading Russian mining and steel group, announces financial results for the 1Q 2021.Mechel PAO's Chief Executive Officer Oleg Korzhov commented:"The Group's consolidated revenue in 1Q2021 was 76.0 billion rubles, which is 10% more than in the previous quarter. EBITDA reached 18.2 billion rubles, demonstrating an 88% growth quarter-on-quarter."The results improved due to increased prices for nearly the entire product range o
Consolidated revenue - 265.5 bln rubles (-8% compared to FY 2019) EBITDA[*]- 41.1 bln rubles (-23% compared to FY 2019) Profit attributable to equity shareholders of Mechel PAO - 808 mln rubles MOSCOW, RUSSIA / ACCESSWIRE / March 11, 2021 / Mechel PAO (MOEX: MTLR, NYSE: MTL), a leading Russian mining and steel group, announces financial results for the FY 2020. Mechel PAO's Chief Executive Officer Oleg Korzhov commented: "The Group's consolidated revenue in 2020 totaled 265.5 billion rubles, which is 8% less compared to 2019. EBITDA amounted to 41.1 billion rubles, which is 23% less year-on-year. "The mining division accounted for about 60% of the decrease in revenue. This was due to a s
MOSCOW, RUSSIA / ACCESSWIRE / August 18, 2022 / Mechel PAO ((MOEX:MTLR, NYSE:MTL), one of the leading Russian mining and metals companies, reports 1H2022 and 2Q2022 operational results.Mechel PAO's Chief Executive Officer Oleg Korzhov commented on the results:"The upward trend for average commodity and steel product prices, which began in 2021, also persisted in 1Q2022, but started to weaken gradually in 2Q2022. In July-August prices continued to slump. We consider the positive price dynamics early in the year a result of resurging global demand following several waves of the coronavirus pandemic."The investment program aimed at upgrading the mining equipment led to increased mining volumes
MOSCOW, RUSSIA / ACCESSWIRE / May 31, 2022 / Mechel PAO (NYSE:MTL)(MOEX:MTLR), a leading Russian mining and metals company, announces the decisions made by its Board of Directors at a meeting held on May 30, 2022.The Board of Directors made the following recommendations to the general meeting of Mechel PAO's shareholders:to elect to Mechel PAO's Board of Directors:Igor V. ZyuzinOleg V. KorzhovGeorgy G. PetrovAlexander N. KotskyAlexander D. OrishchinIrina N. IpeevaYuriy N. MalyshevIvan F. GlumovNelli R. Galeevanot to pay an annual dividend with respect to both ordinary and preferred shares.The annual general meeting of shareholders will be held on June 30, 2022 by absentee balloting.Filled vo
MOSCOW, RUSSIA / ACCESSWIRE / May 20, 2022 / Mechel PAO (NYSE:MTL) (MOEX:MTLR), a leading Russian mining and metals company, announces the decisions made by its Board of Directors at a meeting held on May 20, 2022.The Board of Directors made the following decisions:The annual general meeting of shareholders will be held on June 30, 2022 by absentee balloting.The list of persons entitled to take part in the annual general shareholder meeting will be made based on the data in the Mechel PAO Shareholders' Register as of June 6, 2022.Filled vote bulletins may be mailed to 125167, Moscow, Krasnoarmeiskaya St, 1, Mechel PAO.Bulletins in electronic form may be filled at the following Internet addre
MOSCOW, RUSSIA / ACCESSWIRE / May 18, 2022 / Mechel PAO (MOEX MTLR)(NYSE:MTL), one of the leading Russian mining and metals companies, reports that the Russian Government's foreign investment control commission granted the company permission to continue having its ADRs circulated abroad in compliance with foreign law.In accordance with Russia's law N114-F3 "On changes to the federal law on joint-stock companies and other certain laws" which came into force on April 27, 2022, and the Russian Government's decision #672, dated April 16, 2022, Mechel PAO applied to Russia's Ministry of Finance with a request for a permission to maintain its depositary receipts programs. The Russian Government's
MOSCOW, RUSSIA / ACCESSWIRE / April 29, 2022 / Mechel PAO ((MOEX:MTLR, NYSE:MTL), one of the leading Russian mining and metals companies, decided to temporarily abstain from making public its 1Q2022 financial and operational results.The company's decision is due to the fact that some investors lack the ability to make transactions with Mechel PAO's securities, and making such information public may profit some interested parties more than others.The company plans to release its 1H2022 financial and operational results in compliance with the calendar available at Mechel PAO's website.***Mechel PAOAlexey LukashovTel: + 7 495 221 88 [email protected]***Mechel is an international mini
MOSCOW, RUSSIA / ACCESSWIRE / March 1, 2022 / Mechel PAO (MOEX:MTLR)(NYSE:MTL), a leading Russian mining and steel group, announces financial results for the FY 2021.Consolidated Results for the FY'2021Mechel PAO's Chief Executive Officer Oleg Korzhov commented:"The Group's consolidated revenue in 2021 amounted to 402.1 billion rubles, up by 51% year-on-year. EBITDA was 118.9 billion rubles, demonstrating a 190% growth year-on-year. EBITDA margin was 30%, doubling the EBITDA margin of 2020."Favorable trends on steel and metallurgical commodity markets was the key driver for the improvement of the Group's financial results. On average, the prices for our facilities' steel products went up by
MOSCOW, RUSSIA / ACCESSWIRE / March 1, 2022 / Mechel PAO (MOEX:MTLR)(NYSE:MTL), one of the leading Russian mining and metals companies, announces 2021 operational results.Mechel's Chief Executive Officer Oleg Korzhov commented on the results:"2021 demonstrated positive price trends for all types of the Group's products. Starting in June, prices on the mining division's output were actively growing, occasionally reaching new historical highs. For example, premium coking coal FOB Australia went from $100 in late May to over $400 in September, remaining in the $330-360 range by the end of the year. The prices CIF China reached their record high of $615 in October and then went into a downward t
MOSCOW, RUSSIA / ACCESSWIRE / February 28, 2022 / Mechel PAO ((MOEX:MTLR, NYSE:MTL), one of the leading Russian mining and metals companies, announces that it intends to release its operational and financial results for the full year period ending December 31, 2021, on Tuesday, March 1, 2022.***Mechel PAOAlexey LukashovPhone: +7495221 8888e-mail: [email protected]***Mechel is an international mining and steel company. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials
MOSCOW RUSSIA / ACCESSWIRE / February 11, 2022 / Mechel PAO (MOEX:MTLR)(NYSE:MTL), one of the leading Russian mining and metals companies, reports creating a new post of deputy chief executive officer for Mechel PAO's operations.Alexey Lebedev has been appointed to this new post.Alexey Lebedev will be in charge of a wide range of issues linked to operational planning and technical development, meeting production plans, product quality, construction and overhauls, labor and industrial safety.He will temporarily coordinate work on his new post with management of the company's transport division."Alexey Lebedev built an exemplary career in Mechel Group and proved himself as an expert manager wi
MOSCOW, RUSSIA / ACCESSWIRE / February 10, 2022 / Mechel PAO (MOEX:MTLR)(NYSE:MTL), one of the leading Russian mining and metals companies, reports early repayment of its obligations to VTB Bank regarding its dollar-denominated loan.Southern Kuzbass Coal Company, which is part of Mechel Group's mining segment, acted as the debtor on this loan. As part of the restructuring conducted in 2020, the outstanding 341-million-dollar amount on this loan was scheduled to be repaid by the end of April 2022. In early February, Southern Kuzbass Coal Company repaid the outstanding amount on this loan in full ahead of schedule. As a result, part of the collateral pledged to VTB Bank will be released."Meche
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Upgrades SVB Leerink upgraded the previous rating for Moderna Inc (NASDAQ:MRNA) from Underperform to Market Perform. Moderna earned $5.24 in the second quarter, compared to $6.46 in the year-ago quarter. The stock has a 52-week-high of $249.42 and a 52-week-low of $115.03. At the end of the last trading period, Moderna closed at $118.38. For Farmers & Merchants Bancorp Inc (NASDAQ:FMAO), Piper Sandler upgraded the previous rating of Underweight to Neutral. For the third quarter, Farmers & Merchants had an EPS of $0.68, compared to year-ago quarter EPS of $0.53. The stock has a 52-week-high of $42.13 and a 52-week-low of $25.17. At the end of the last trading period, Farmers & Merchants cl
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Scotiabank analyst Konark Gupta downgrades Mechel PAO (NYSE:MTL) from Sector Outperform to Sector Perform and announces $16 price target.
The Russian economy has been hit hard by global sanctions after the country’s hostile actions began in Ukraine. Among the many casualties of these sanctions is the Moscow Stock Exchange, which suffered a drop of almost 40% since the invasion. For U.S. investors, Russian stocks are now out of reach. Several bans are in place which forbid Americans from trading Russian securities. Other measures have locked up the few Russian companies listed in U.S. exchanges. Here’s everything to know about trading Russian stocks in the U.S. Trading Russian Companies Listed In The U.S. On Feb. 28, four days after Russian forces invaded Ukraine, both the Nasdaq and NYSE announced a temporary halt on trad
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The Russian ruble was trading as low as 119 per U.S. dollar on Monday morning, down from 84 per dollar on Sunday, a decline of nearly 30%. The precipitous fall of Russia's currency comes in response to international backlash and sanctions against Russia following its invasion of Ukraine last week. Russia's central bank announced on Monday that its stock and derivatives markets will remain closed on Monday, but plenty of Russia-linked stocks and ETFs are taking big hits in global markets on Monday. Related Link: Gas Prices: Why Russia's Invasion Of Ukraine Will Increase Your Costs At The Pump RSX And SPY Funds: One of biggest victims is understandably the VanEck Russia ETF (BATS:RSX), whi
In order to put further pressure on Russian President Vladamir Putin, the United States on Monday targeted Russia's central bank with new sanctions. What Happened: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) blocked Americans from engaging in transactions with the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation. "This action effectively immobilizes any assets of the Central Bank of the Russian Federation held in the United States or by U.S. persons, wherever located," OFAC said. OFAC also announced sanctions against the Russian Direct Investment Fund, which