Blog > Gold and Resources > Blog article: Buy Mechel (MTL) for 30% gains on steel and coal
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Buy Mechel (MTL) for 30% gains on steel and coal

Posted June 4, 2008

“Get this: MTL posted a 94% year-on-year rise in coking coal output for the first quarter of 2008. Nickel and iron ore output also experienced year-on-year growth, though not as much as coking coal.” — Sara. Nunnally

by Sara Nunnally

Baltimore – (TFN): Last Thursday, Mechel OAO (MTL:NYSE) announced record results for 2007. Here’s a snapshot:

  • Revenues increased 52.0% to US$6.7 billion
  • Operating income increased 92.59% to US$1.4 billion
  • Net income increased 51.4% to US$913.1 million

MTL is a mining and steel company based in Russia. It’s Russia’s fourth-largest steel producer and largest coking coal miner. Coking coal is used in making steel, and MTL produces 100% of its own coal and 92% of its own iron ore.

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Sara Nunnally is a regular contributor to Taipan Daily, your FREE resource for late-breaking investment opportunities to help you beat Wall Street to the profits.

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And get this: MTL posted a 94% year-on-year rise in coking coal mining output for the first quarter of 2008. Nickel and iron ore output also experienced year-on-year growth, though not as much as coking coal.

This boost is based on acquisitions that are already padding the bottom line, and it’s enticed MTL to split 3-for-1 in mid-May. Read on to learn more and find a stock chart for MTL.

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Posted by Sara Nunnally · Filed Under Gold and Resources 

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