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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%.

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


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Financial results announcement

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

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Q1 2021 financial highlights

Q2 2021 operational results

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

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.

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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.

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