James River Coal Results Sparks Rally in Coal Stocks -- Patriot Coal DIP Financing Approved
<p> The Paragon Report Provides Stock Research on James River Coal and Patriot Coal </p>
NEW YORK, NY--(Marketwire -08/14/12)- Better than expected second quarter earnings from James River Coal sparked a rally in coal stocks Thursday. "The thermal market is just beginning to show signs of recovery," said James River Coal's Chairman and CEO Peter Socha. "We believe that this is due to production cutbacks throughout the industry as well as improved demand for both coal and natural gas due to warmer than normal temperatures." The Paragon Report examines investing opportunities in the Coal Industry and provides equity research on James River Coal Company (JRCC) and Patriot Coal Corporation (PCXCQ).
Access to the full company reports can be found at:
As the demand for coal has dropped significantly in the U.S. as a result of plummeting natural gas prices, coal companies have begun to look at foreign markets. The economies of India and China are still heavily on coal for their power generation. According to a recent Forbes article the latest reported data has shown that during the first half of 2012 China has seen coal imports rise to 140 million tons, a 66 percent year-over-year growth. India's thermal coal imports are expected to total 80 million tons in FY2012-2013. Asia's combined thermal coal demand is projected to be around 550 million tons.
Paragon Report releases regular market updates on the Coal Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.
James River Coal Company sells metallurgical, bituminous steam and industrial-grade coal to electric utility companies and industrial customers both domestically and internationally. Shares of the company surged last Thursday after reporting a narrower loss than projected by analysts. The company had net loss of $25.8 million or $0.74 per diluted share for the second quarter of 2012, analysts had expected a loss of $0.79 per share.
Patriot Coal ships to domestic and international electricity generators, industrial users and metallurgical coal customers, and controls approximately 1.9 billion tons of proven and probable coal reserves. The company recently reported that the U.S. Bankruptcy Court for the Southern District of New York has entered a final order approving Patriot's $802 million Debtor-in-Possession financing.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
