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NEW YORK ( TheStreet) -- Mechel OAO (NYSE: MTL) hit a new 52-week low Thursday as it is currently trading at $5.36, below its previous 52-week low of $5.42 with 261,596 shares traded as of 9:55 a.m. ET. Average volume has been 3.5 million shares over the past 30 days. Mechel OAO has a market cap of $2.41 billion and is part of the basic materials sector and metals & mining industry. Shares are down 35.1% year to date as of the close of trading on Wednesday. Mechel OAO, through its subsidiaries, operates as a mining and steel company in the Russian Federation and internationally. The company operates in four segments: Mining, Steel, Ferroalloys, and Power. The company has a P/E ratio of 3.7, equal to the average metals & mining industry P/E ratio and below the S&P 500 P/E ratio of 17.7.