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| CNX Coal Resources Cuts '16 Sales Outlook amid Global Rout | |
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CNX Coal Resources LP CNXC lowered its coal sales expectation for 2016 amid slump in commodity prices the world over. The partnership projects coal sales volume in the range of 4.4 –5.2 million tons, down from its previous guidance of 5–5.4 million tons. CNX Coal is a master limited partnership formed by CONSOL Energy Inc. CNX to develop and manage its active thermal coal operations primarily in Pennsylvania. Maintenance CapEx is projected in the range $24.5–$27.5 million for the current year. The parent company also cut its total coal sales outlook and capital investment for 2016. CONSOL expects coal sales to hover between 27–32 million tons versus the prior projection of 30.6–33.4 million tons. With natural gas prices touching historical lows, CONSOL being a major producer of natural gas has also lowered its capital spending plans to $205–325 million in its exploration and production division, from $400–500 million earlier. The coal industry is currently going through a very rough phase, both in terms of demand and prices. Higher competition from cheap natural gas and alternate energy as a fuel source along with increasing regulatory pressure has been at the root of the decline in coal. The finalized version of the Clean Power Plan announced in Aug 2015 by the U.S. Environmental Protection Agency will ensure a steady drop in coal demand. The recent Paris climate deal has set a target of limiting global warming to “well below” 2.0 degrees Celsius (3.6 Fahrenheit). If the pledges are sincerely adhered to, it will seal the fate of any coal rebound. To tide over these tough times, CNX Coal has increased its contracted portion of sales to 93%, 61% and 49% for the current year and the next two years, respectively. Zacks Rank CNX Coal carries a Zacks Rank #4 (Sell). A couple of better-ranked stocks in the coal industry are Cloud Peak Energy Inc. CLD and Glencore Plc GLNCY, both carrying a Zacks Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CONSOL ENERGY (CNX): Free Stock Analysis Report CLOUD PEAK EGY (CLD): Free Stock Analysis Report GLENCORE PLC (GLNCY): Free Stock Analysis Report CNX COAL RESRCS (CNXC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Consol Energy Inc.
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PRODUCTEUR |
CODE : CNX |
ISIN : US20854P1093 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Consol Energy est une société de production minière basée aux Etats-Unis D'Amerique. Consol Energy est productrice de charbon en USA, et détient divers projets d'exploration en USA. Son principal projet en production est BUCHANAN en USA. Consol Energy est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 5,4 milliards US$ (5,0 milliards €). La valeur de son action a atteint son plus haut niveau récent le 06 juin 2008 à 99,79 US$, et son plus bas niveau récent le 26 avril 2019 à 10,00 US$. Consol Energy possède 223 758 284 actions en circulation. |