| Coal Sector: Stock Market Update for Week Ended July 17 | |
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Coal Prices Drop in Spite of Favorable Indicators (Continued from Prior Part) Walter Energy files for bankruptcy
On Wednesday, July 15, Walter Energy (WLT) filed for bankruptcy. The “pure-play met coal producer” ran out of options when it couldn’t make an interest payment by the end of the grace period. The control of the company will now pass on to senior creditors. For more details, read the Market Realist series Walter Energy Files for Bankruptcy: What Investors Should Know.
Trading on ANR halted
On Thursday, July 16, the New York Stock Exchange suspended trading on Alpha Natural Resources (ANR) shares due to continued “abnormally low prices.” The stock traded below a dollar for more than ten weeks before closing at $0.24 on July 15, the last day it traded. News reports also suggested that ANR may file for bankruptcy as early as next month.
Top losers
The SPDR S&P 500 ETF (SPY), a representative of the broader market, rose 2% last week. However, the Market Vectors Coal ETF (KOL) fell 2.4% as Walter Energy filed for bankruptcy and reports of natural gas surpassing coal’s market share in electricity generation made the rounds.
Peabody Energy (BTU) was the biggest loser with a 19.4% fall. The stock ended at $1.29 on Friday, July 17.
Consol Energy (CNX) fell 12.4% to $17.21 with a market capitalization of $3.9 billion. Weaker fuel prices have taken a toll on the company’s stock. Last week, the company announced the layoff of 10% of its workforce.
Natural Resources Partners (NRP), a coal MLP, fell 11.7%, while Cloud Peak Energy (CLD) fell 9.4%.
Browse this series on Market Realist:
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Natural Resource Partners L.P.
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CODE : NRP |
ISIN : US63900P1030 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Natural Resources Partners est une société de production minière basée aux Etats-Unis D'Amerique. Natural Resources Partners détient divers projets d'exploration en USA. Son principal projet en exploration est D.D. SHEPARD en USA. Natural Resources Partners est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,1 milliards US$ (1,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 24 juillet 2020 à 10,00 US$, et son plus haut niveau récent le 26 avril 2024 à 91,73 US$. Natural Resources Partners possède 12 241 602 actions en circulation. |