| Arch Coal Runs out of Steam as September Starts | |
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US Coal Shipments Keep Rising in a Tough Industry Environment (Continued from Prior Part) Coal ETF
During the week ending September 4, the Market Vectors Coal ETF (KOL) lost 5.2% as doubts over China’s growth prospects continued to hamper the ETF. Chinese stocks account for 25% of the ETF’s total holdings. Moreover, China, being the biggest importer and consumer of coal in the world, drives sentiments in the global coal industry.
During the same week, the broad-based SPDR S&P500 ETF (SPY) lost 5.2% as weak Chinese economic data sparked a sell-off in global equity markets.
Arch Coal
Arch Coal (ACI), which had seen a rally since mid-August on positive sentiments due to a debt exchange deal, plunged 34.1% as J.P. Morgan (JPM) published a bearish outlook on coal prices. On September 4, Arch Coal closed at $5.41, down from August 28’s $8.21 a share.
Other losers
Cloud Peak Energy (CLD) fell 11.7% during the September 4 week to close at $3.86. The stock had rallied the previous week. Last week’s fall represents a correction.
Consol Energy (CNX) continued to experience pressure, as both coal and natural gas prices have remained weak. The stock lost 6.9% to end the week at $13.4.
Peabody Energy (BTU) dropped 4.6% to end the week at $2.29.
Gainers
Westmoreland Coal Company (WLB) and Natural Resource Partners (NRP) gained 5.7% and 3.1%, respectively, defying the trend in the coal industry and broader market.
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Arch Coal Inc
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PRODUCER |
CODE : ACI |
ISIN : US0393801008 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Arch Coal is a coal producing company based in United states of america. Arch Coal holds various exploration projects in USA. Its main assets in production are WEST ELK, BLACK THUNDER and JACOB'S RANCH in USA and its main asset in development is SPRUCE N° 1 in USA. Arch Coal is listed in Germany and in United States of America. Its market capitalisation is US$ 366 000 as of today (€ 317 981). Its stock quote reached its highest recent level on June 27, 2003 at US$ 99.96, and its lowest recent point on October 04, 2018 at US$ 0.01. Arch Coal has 36 600 000 shares outstanding. |