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Walter Energy, Inc. Message Board

  • durfinvests durfinvests Apr 18, 2013 1:33 PM Flag

    Walter Energy shares jump on takeover speculation

    Walter Energy shares jump on takeover speculation

    Market Pulse

    December 06, 2012|Jim Jelter


    SAN FRANCISCO (MarketWatch) -- Coal miner Walter Energy Inc. (US:wlt) shares jumped as much as 7% in early trade Thursday amid British media reports that the company is a likely takeover target. Among those cited as possibly mounting a bid for the company are mining giant BHP Billiton Ltd. (US:bhp) and the Anglo-Swiss commodities powerhouse Glencore International (US:glncy). Shares of Birmingham, Ala.-based Walter Energy are down 53% over the past 12 months, hurt by a widespread sell-off in coals stocks. Most coal is thermal coal, however, used to fire power plants and under pressure from abundant natural gas supplies. Walter Energy specializes in high grade metallurgical coal, used primarily in steel production, and is considered a "pure play" stock. Walter Energy shares were last up 7% at $33.90, a one-month high, after gapping higher at the open.

    Sentiment: Strong Buy

5.97-0.22(-3.54%)1:14 PMEDT

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