James River Coal and Patriot Coal Negotiate Soft Market Conditions
01 März 2012 - 2:20PM
Marketwired
Coal stocks had a poor February as demand fundamentals continue to
struggle. The Market Vectors-Coal ETF (KOL) -- which replicates an
index that provides exposure to publicly traded companies worldwide
that derive greater than 50% of their revenues from the coal
industry -- sank around 1.2 percent last month to underperform the
market. The Paragon Report examines the outlook for companies in
the coal industry and provides equity research on James River Coal
Company (NASDAQ: JRCC) and Patriot Coal Corporation (NYSE: PCX).
Access to the full company reports can be found at:
www.paragonreport.com/JRCC
www.paragonreport.com/PCX
Analysts at Credit Suisse (CS) recently issued a report to
clients arguing that thermal coal providers are likely to continue
to see soft market conditions. Low natural gas prices, EPA ruling
delays and disappointing coal burn levels remain near-term
headwinds, CS says.
On the upside, Credit Suisse provided a favorable outlook for
metallurgical coal prices. Global steel production appears to be
resilient, CS says. Also, domestic production cuts of Eastern met
coal should prove supportive to market pricing.
The Paragon Report provides investors with an excellent first
step in their due diligence by providing daily trading ideas, and
consolidating the public information available on them. For more
investment research on the coal industry register with us free at
www.paragonreport.com and get exclusive access to our numerous
stock reports and industry newsletters.
Patriot Coal Corporation engages in the mining, production, and
sale of thermal coal primarily to electricity generators in the
eastern United States. It has operations and coal reserves in the
Appalachia and the Illinois Basin coal regions. Last month the
company reported that it received four awards for exemplary
restoration of surface mined lands.
James River Coal Company mines, processes and sells bituminous,
steam- and industrial-grade coal through six operating subsidiaries
(mining complexes) located throughout eastern Kentucky and in
southern Indiana. Shares of the company slipped more than 10
percent in February.
The Paragon Report has not been compensated by any of the
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