Coal stocks rallied last week after Moody’s Investors Service upgraded its outlook for the U.S. coal industry to "stable" from "negative" in a recent report. Moody’s believes that industry fundamentals, which remain very weak, to worsen over the next 12 to 18 months. "The stable outlook reflects our expectation that over the next year or so coal-fired power plants will capture roughly 40% of US electricity generation, up from 37% in 2012," says Moody’s Vice President-Senior Analyst, Anna Zubets-Anderson. "Coal inventories had fallen to roughly 164 million short tons by July this year, so we expect modest improvements in thermal coal production and pricing next year."
Cloud Peak Energy Inc. (NYSE:CLD - News) shares traded in the range of $16.66 to $17.24 Monday before settling to close at $16.86, a decrease of 0.53 percent. The stock appears to be facing some resistance at the $17.38 and $17.84 levels with some support at $16.55. Shares of Cloud Peak Energy have fallen approximately 12.0 percent in 2013.
More information on Cloud Peak Energy and access to the free equity report can be found at:
Cliffs Natural Resources Inc. (NYSE:CLF - News) shares traded in the range of $24.33 to $25.95 Monday before settling to close at $24.47, an increase of 0.49 percent. The stock appears to be facing some resistance at the $25.08 and $27.35 levels with some support at $23.62. Shares of Cliffs Natural Resources have fallen approximately 36.0 percent in 2013.
More information on Cliffs Natural Resources and access to the free equity report can be found at:
CONSOL Energy Inc. (NYSE:CNX - News) shares traded in the range of $31.50 to $32.51 Monday before settling to close at $31.58, a decrease of 1.50 percent. The stock appears to be facing some resistance at the $32.40 and $32.92 levels with some support at $31.12. Shares of CONSOL Energy have fallen approximately 1.6 percent in 2013.
More information on CONSOL Energy and access to the free equity report can be found at:
Patriot Coal Corporation (OTCMKTS:PCXCQ - News) shares traded in the range of $0.18 to $0.20 Monday before settling to close at $0.192, an increase of 1.05 percent. The company announced that it has reached a consensual agreement with the United Mine Workers of America on modifications of labor contracts and retiree healthcare.
More information on Patriot Coal and access to the free equity report can be found at:
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