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Coal Stocks Rise and Utilities Fall during Bad Week for S&P 500 (Continued from Prior Part) Arch Coal gains
After experiencing heightened volatility in the previous week, Arch Coal (ACI) gained a whopping 205% to $3.85 as the deadlock on the debt exchange offer seems to have resolved. In other news, the George Soros Investment Fund declared that it bought a small stake in the company in 2Q15.
Arch Coal (ACI) is offering debt exchange to investors to increase its financial flexibility to avoid bankruptcy. Some senior lenders were opposing the deal, demanding better yields and terms. Bloomberg Businessweek reported last week that the company “is seeking a compromise with lenders opposing a debt-swap deal.”
Peabody Energy gains too
After being under pressure for weeks, Peabody Energy (BTU) gained 57.5% and ended at $1.78 last week. Some reports suggested that the company is looking to offload its Australian assets, which it acquired in a $5.2 billion acquisition of Macarthur Coal in 2011. The company’s Australian operations are burning cash heavily, primarily on account of weak metallurgical coal prices, which are at a six-year low. Offloading these assets will reduce the cash burn as well as reduce the leverage if the company repays debt through proceeds.
Other gainers
Cloud Peak Energy (CLD) gained 9.5% to $3.33, while Westmoreland Coal Company (WLB) gained 3.9% to $12.64. Consol Energy (CNX) continued to lose on subdued natural gas prices. The stock lost 2.5% to $12.61.
While major coal stocks gained, the Market Vectors Coal ETF (KOL) dropped 4.4%, led by Chinese coal stocks. American stocks account for only 30% of the ETF.
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Arch Coal Inc
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PRODUCTEUR |
CODE : ACI |
ISIN : US0393801008 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Arch Coal est une société de production minière de charbon basée aux Etats-Unis D'Amerique. Arch Coal détient divers projets d'exploration en USA. Ses principaux projets en production sont WEST ELK, BLACK THUNDER et JACOB'S RANCH en USA et son principal projet en développement est SPRUCE N° 1 en USA. Arch Coal est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 366 000 US$ (317 981 €). La valeur de son action a atteint son plus haut niveau récent le 27 juin 2003 à 99,96 US$, et son plus bas niveau récent le 04 octobre 2018 à 0,01 US$. Arch Coal possède 36 600 000 actions en circulation. |