FTSE 250 movers: Evraz adds steel, Mitie's mighty fall to 2009 low

(ShareCast News) - The FTSE 250 index on Wednesday recouped its losses from this and last week, led by further gains for miners.Top of the mid-cap list was miner and steel maker Evraz.Analyst Mike van Dulken at Accendo Markets said the Russian group, where Chelsea owner Roman Abramovich has a 31% stake, was likely to be benefitting from the bounce in iron ore, "helped by the USD retreat that is helping most commodities".On Tuesday, a report from S&P cited strong second-quarter performance for European steelmakers that offered hope of more sustainable profits, helped by news of more resilient demand from developed markets. Fellow credit agency Fitch last month removed Evraz from its blacklist due to the company's progress in lowering its absolute levels of debt and the better outlook for more stable steel prices.Kaz Minerals benefited from a Barclays upgrade on Wednesday to 'equalweight' from 'underweight', with the company's target price lifted to 210p from 130p.Analysts said the company has averted more material downside scenarios for shareholders through a combination of strong cost control and a so-far-so-smooth ramping up of the Bozshakol and Aktogay projects, while the copper price has allowed Kaz to avoid needing to access debt or equity markets."We are constrained from becoming more positive, however, on the grounds that Kaz is trading at parity on EV/EBITDA to Antofagasta on our base case forecasts in 2017-18 with the projects no longer capitalised, while free cash flow yields remain negative; the same is true on spot."Barclays also included Vedanta Resources in its overview, upping its target price.Others to have been moved by included plastic packaging group RPC as Jefferies upped the target price by a pound to 1,100p on the back of 2017 estimates upgraded by 7% and a discount to peers.The broker reaffirmed its 'buy' rating, upping saying it expected an upbeat pre-close update next week, "giving upside risk to estimates from 1) organic growth; 2) increased BPI synergies; 3) easing polymer prices; 4) FX tailwind."How the Mitie has fallenOutsourcing group Mitie continued to tumble after its big profit warning on Monday, losing a further 4% to fall below 190p for the first time since the first half of 2009.Broker Numis said on Tuesday that "the quantum and timing of this profit warning comes as a surprise to us" and downgraded its forecasts by 20% despite the difficulty in fully assess the impact ahead of detailed numbers at interims, seeing further downside risks as possible in the second half and beyond.Numis cut its target price to 166p, arguing that a price eight times earnings wes "a fair valuation until certainty improves".Ocado was down 3.65% after Deutsche Bank cut its rating to 'sell' from 'hold' but left its target price at 220p after the online grocer's third-quarter update last week.While sales growth was broadly in line with expectations, analysts were concerned by the statement including a cautious margin comment about "sustained and continuing margin pressure" and so a £21m full year EBIT forecast was left 12% below the consensus £24m."While the share has fallen 17% post Q3, we continue to have 18% downside to our unchanged 220p target price....Ocado continues to look expensive relative to Amazon".Deutsche also was negative on train and bus operator FirstGroup, starting coverage at 'sell' and with a 94p target price, noting its highest leverage among peers and lowest post-tax return on capital employed."We believe management is pursuing the right strategies to rebuild margins at UK Bus and First Student but in our view this remains a multiyear rather than imminent turnaround."N Brown was down after a late announcement revealing it had identified an error in relation to its previous calculation of financial services customer complaint redress."We have notified the FCA accordingly and we are undertaking a detailed review. We currently anticipate that this will result in an exceptional cash cost of £5-8m," the company said. The company also confirmed that its new USA web platform is scheduled to go live within the next few days, slightly later than planned."Learnings from this launch will be incorporated into the plan for the roll out of the new UK web platform and Financial Services system," the clothing retailer said, which will result in a change to its previously communicated timetable and possibly a resulting increase in costs. FTSE 250 - RisersCLS Holdings (CLI) 1,648.00p 5.30%Hunting (HTG) 438.20p 4.88%AO World (AO.) 164.00p 4.13%Kaz Minerals (KAZ) 209.20p 3.82%RPC Group (RPC) 941.00p 3.52%Evraz (EVR) 153.40p 3.51%Allied Minds (ALM) 328.90p 3.40%PayPoint (PAY) 1,042.00p 3.27%OneSavings Bank (OSB) 267.10p 3.13%Laird (LRD) 329.50p 3.10%FTSE 250 - FallersDFS Furniture (DFS) 254.40p -3.27%Mitie Group (MTO) 187.90p -2.64%Ocado Group (OCDO) 262.70p -2.27%Rank Group (RNK) 208.30p -2.21%UDG Healthcare Public Limited Company (UDG) 615.00p -1.84%FirstGroup (FGP) 107.60p -1.74%Indivior (INDV) 328.10p -1.53%Safestore Holdings (SAFE) 375.60p -1.52%Caledonia Investments (CLDN) 2,482.00p -1.51%Ascential (ASCL) 275.20p -1.36%