Coal stocks rallied last week after Moody’s Investors Service upgraded its outlook for the U.S. coal industry to "stable" from "negative" in a recent report. Moody’s believes that industry fundamentals, which remain very weak, to worsen over the next 12 to 18 months. "The stable outlook reflects our expectation that over the next year or so coal-fired power plants will capture roughly 40% of US electricity generation, up from 37% in 2012," says Moody’s Vice President-Senior Analyst, Anna Zubets-Anderson. "Coal inventories had fallen to roughly 164 million short tons by July this year, so we expect modest improvements in thermal coal production and pricing next year."
Arch Coal Inc. (NYSE: ACI) shares traded in the range of $4.51 to $4.76 Monday before settling to close at $4.51, a decrease of 0.22 percent. The stock appears to be facing some resistance at the $4.56 and $4.71 levels with some support at $4.16. Shares of Arch Coal have fallen approximately 38.0 percent in 2013.
More information on Arch Coal and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ACI
Alpha Natural Resources, Inc. (NYSE: ANR) shares traded in the range of $5.81 to $6.17 Monday before settling to close at $5.84, a decrease of 0.51 percent. The stock appears to be facing some resistance at the $6.39 and $6.69 levels with some support at $5.83. Shares of Alpha Natural Resources have fallen approximately 40.0 percent in 2013.
More information on Alpha Natural Resources and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ANR
Peabody Energy Corporation (NYSE: BTU) shares traded in the range of $17.57 to $18.48 Monday before settling to close at $17.78, a decrease of 0.67 percent. The stock appears to be facing some resistance at the $17.90 and $18.23 levels with some support $17.12. Shares of Peabody Energy have fallen approximately 13.5 percent in 2013.
More information on Peabody Energy and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BTU
Walter Energy, Inc. (NYSE: WLT) shares traded in the range of $12.51 to $13.58 Monday before settling to close at $12.73, a decrease of 2.0 percent. The stock appears to be facing some resistance at the $16.60 and $17.83 levels with some support at $12.64. Shares of Walter Energy have fallen approximately 65.0 percent in 2013.
More information on Walter Energy and access to the free equity report can be found at:
www.WallStreetFundamentals.com/WLT
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