Global Hunter Securities Starts Arch Coal Inc (ACI) at Neutral; Seeing Red Next 3-6 Quarters
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Price: $12.38 +3.34%
Rating Summary:
18 Buy, 17 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
18 Buy, 17 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Global Hunter Securities initiates coverage on Arch Coal Inc (NYSE: ACI) with a Neutral.
Analyst, Wayne Atwell, said, "...We do not expect ACI to make a meaningful acquisition for several years. Due to weak thermal coal fundamentals, ACI recently idled equipment and reduced work schedules to bring thermal coal production in line with demand and preserve the value of its reserve base, while expanding its metallurgical coal production and increasing its export capability. The company exported seven million tons of coal in 2011; its 2012 goal is 12 million tons. ACI is developing the Leer Mine with the goal of adding 3.5 million tons of metallurgical coal production by mid-2013. In addition, it is upgrading its Beckley and Sentinel preparation plants in order to increase efficiencies and the yield of high quality metallurgical coal. It has also increased PCI sales from its Lone Mountain complex. ACI's goal is to increase metallurgical coal production to 15 million tons by 2015 from 7.5 tons in 2011."
For an analyst ratings summary and ratings history on Arch Coal Inc click here. For more ratings news on Arch Coal Inc click here.
Shares of Arch Coal Inc closed at $6.91 yesterday.
Analyst, Wayne Atwell, said, "...We do not expect ACI to make a meaningful acquisition for several years. Due to weak thermal coal fundamentals, ACI recently idled equipment and reduced work schedules to bring thermal coal production in line with demand and preserve the value of its reserve base, while expanding its metallurgical coal production and increasing its export capability. The company exported seven million tons of coal in 2011; its 2012 goal is 12 million tons. ACI is developing the Leer Mine with the goal of adding 3.5 million tons of metallurgical coal production by mid-2013. In addition, it is upgrading its Beckley and Sentinel preparation plants in order to increase efficiencies and the yield of high quality metallurgical coal. It has also increased PCI sales from its Lone Mountain complex. ACI's goal is to increase metallurgical coal production to 15 million tons by 2015 from 7.5 tons in 2011."
For an analyst ratings summary and ratings history on Arch Coal Inc click here. For more ratings news on Arch Coal Inc click here.
Shares of Arch Coal Inc closed at $6.91 yesterday.
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