UBS AG, (
NYSE: UBS,
Stock Forum) delivered a lump of coal to investors Wednesday by downgrading several stocks in the sector.
Peabody Energy Corp. (
NYSE: BTU,
Stock Forum) is one of five that UBS cut to neutral from buy due to risks of falling metallurgical coal prices. It dropped 2.6% to $15.80.
Also in the coal sector,
Arch Coal Inc. (
NYSE: ACI,
Stock Forum) was down 1.9% to $4.57.
Consol Energy Inc. (
NYSE: CNX,
Stock Forum) dropped 1.7% to $40.37, and
Walter Energy Inc. (
NYSE: WLT,
Stock Forum) slide 4.2% to $7.44.
Alpha Natural Resources (
NYSE: ANR,
Stock Forum) was off 0.23% to $4.33.
In Canada,
Teck Resources Ltd. (
TSX: T.TCK.B,
Stock Forum) eased 2.7% to $23.53, leaving the Vancouver based commodities giant with a market cap of $13.4 billion, based on 566.9 million shares outstanding. The 52-week range is $31.25 and $21.11.