Coal Stocks Get a Shot in the Arm (KOL) (ANR) (PCX)
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Coals stocks (NYSE: KOL) are moving higher today after Alpha Natural Resources, Inc. (NYSE: ANR) announced that it has amended its credit facility to give it more flexibility during a period when coal prices are sagging and demand is weak, sending its stock up in early trading. Earlier this month Alpha said it would stop production at four mines in Kentucky, reduce thermal coal production and slash 150 jobs, as low coal prices and high costs have hurt profitability.
Shares of ANR are higher by 5 percent. Shares of Patriot Coal (NYSE: PCX) are also higher, gaining 14 percent.
Shares of ANR are higher by 5 percent. Shares of Patriot Coal (NYSE: PCX) are also higher, gaining 14 percent.
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