Shares of the mining company Mechel fell by 14.6% after the publication of its financial statements. This is evidenced by trading data on the Moscow Stock Exchange. On August 22, the company published a financial report in which it reported an almost fivefold increase in its net loss.
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According to the Moscow Stock Exchange, ordinary shares of the mining company Mechel fell by 14.6% to 103.4 rubles during trading on August 23. The company’s preferred shares lost 13.3% of their value.
According to the current data at the time of this publication (17:20 Moscow time), Mechel’s ordinary shares fell by 10.6% and preferred shares by 8.1%.
Over the past two trading days, the company’s common stock fell 21.5%, while its preferred stock lost 19.1% in value.
On Thursday, August 22, Mechel published a report for the second quarter and first half of 2024, which reflected a 4.8-fold increase in net loss (16.68 billion rubles) compared to the same period in 2023. EBITDA fell by 18% to 32.8 billion rubles, operating profit decreased by 84% to 4.5 billion rubles.
Shares of the mining company Mechel recorded the worst dynamics of the year among all stocks in the Moscow Stock Exchange index, said Mikhail Zeltser, an expert at BCS Express.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
