HomeTop MoversWhy Mechel PAO (MTL) stock went down on Friday after the recent...

Why Mechel PAO (MTL) stock went down on Friday after the recent announcements?

Mechel PAO (MTL) stock price remained unchanged in the after-market session on Friday, May 21, 2021, but MTL shares lost 4.95% in Friday’s normal trading session and closed at $2.11 per share. MTL shares have risen16.57% over the last 12 months, and they have moved up 3.43% in the past week. Over the past three months, the stock has gained 8.76%, while over the past six months, it has added 28.66%.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Let’s have a brief look at the recent developments of Mechel PAO.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Financial results announcement

On May 20, 2021, Mechel PAO released its financial results for Q1 2021.

Read More

Q1 2021 financial highlights

  • Mechel PAO reported revenue of 76.04 billion rubles compared to 67.23 billion rubles in Q1 2020.
  • In Q1 2021, operating profit was approx. 13 billion rubles compared to 7.93 billion rubles in Q1 2020.
  • EBITDA amounted to 18.2 billion rubles in Q1 2021 compared to 13.16 billion rubles in Q1 2020.
  • Profit attributable to equity shareholders of Mechel PAO was 7.9 billion rubles in Q1 2021, compared to the loss of 36.9 billion rubles in Q1 2020.

Q2 2021 operational results

Mechel PAO released its operational results for Q1 2021 on May 20, 2021.

  • Mechelsuffered from the lack of cash flow sufficient for financing our operations as needed, due to a major slump in coal and steel prices because of the pandemic.
  • Coking coal concentrate sales were decreased by 23% due to reduced mining of this type of coals caused by insufficient stripping volumes in 4Q2020 at our facilities in Yakutia and Kuzbass.
  • Iron ore concentrate sales reduced by 36% due to the technical health of Korshunov Mining Plant’s mining and transport equipment.
  • Sales of long rolls went down by 7% quarter-on-quarter basis. Sales of the universal rolling mill’s sections went down by 16% due to the seasonal slump in demand for beams.
  • Sales of stainless long rolls picked up and demonstrated a 22% growth quarter-on-quarter basis.
  • “Flat roll sales went down by 8% due to ongoing repairs at Chelyabinsk Metallurgical Plant.
  • In Q1 2021, Hardware sales went down by 17% due to a traditional slump in demand for wire and other hardware.

New production area at Sibirginskayaunderground mine

On April 5, 2021, Mechel PAO announced that the Group’s Southern Kuzbass Coal Company launched the second section of the longwall 3-1-11’s working area at Sibirginskaya Underground Mine.

New Longwall at Southern Kuzbass launched

On March 15, 2021, Mechel PAO launched a new longwall at Southern Kuzbass Coal Company’s V.I. Lenina Underground Mine with a total investment of approximately 470 million rubles.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Conclusion

The company announced its operational and financial results late on May 20, which affected on May 21, Friday but both financial and operational results were satisfactory and should not be the reason behind its slump on Friday.

We have to wait and see how MTL stock starts the new week on Monday.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam