WOW! MET coal prices +34% YoY and 2 more upgrades overnight: 1 from Hold to Buy and the other from Underperform to Outperform (me thinks that's 2 updgades just on that one).
Time to hold WLT and ANR for a few more weeks. Could we looki at $50 to $60 early Feb?
Looks like some managers are looking for a surprise in earnings.
Are you crazy or just plain stupid??
"Walter Energy's met coal prices for the fourth quarter of 2012 averaged approximately $152 per metric ton (MT) for hard coking coal as compared with $198 per MT in the third quarter of 2012. The fourth quarter prices for low-vol PCI averaged approximately $129 per MT as compared with $160 per MT in the third quarter of 2012."
34% represents the amount of MMT produced and not prices!!
Prices are still down and sales also down from last quarter.
It´s going to be a bad quarter...maybe a loss.