|Bid||0.00 x 900|
|Ask||19.34 x 1100|
|Day's Range||18.63 - 19.52|
|52 Week Range||17.20 - 44.71|
|Beta (3Y Monthly)||0.83|
|PE Ratio (TTM)||4.54|
|Forward Dividend & Yield||0.58 (2.96%)|
|1y Target Est||28.13|
(Bloomberg) -- One of the few remaining bulwarks propping up the U.S. coal industry is languishing.Prices for steelmaking coal, which has sustained miners as exports decline and power plants forsake the fuel, are down 22% since May as concerns about the global economy weigh on demand for steel.That has U.S. miners treading water as their shares sink. Peabody Energy Corp. and Arch Coal Inc. are expanding production of metallurgical coal to offset falling prices, and both say those efforts will have little impact on earnings. The moves reflect the challenges facing an industry that has few options to drive growth in a world that’s turning away from the fuel.“If you’re in the coal business, these are the times that try you,” Randy Atkins, chairman of Ramaco Resources Inc., said on a conference call Wednesday. “The thermal coal market has pretty much dropped off the shelf. Even met coal benchmark prices that have held pretty steady at reasonably strong levels over the past year have now dropped.”Ramaco, which produces met coal almost exclusively, attributes falling prices to uncertainties in the Chinese market, especially over import restrictions.Peabody, the biggest U.S. coal company, says the issues in the met coal market are broader. Prices have “eased largely due to the global concerns around trade and economic growth,” Chief Executive Officer Glenn Kellow said during the St. Louis-based company’s second-quarter earnings call last month.He expects met coal production to increase in the second half, but lower prices mean Peabody’s adjusted earnings before interest, taxes, depreciation and amortization will be in line with the $481.9 million reported for the first half.Arch, the No. 2 producer, will boost met coal output as much as 29% in the second half, potentially reaching 4 million tons. However, the financial contribution this quarter from those operations will be comparable to the second quarter, as “increased shipping volumes are projected to be counterbalanced by lower index-based pricing,” Arch President Paul Lang said during the St. Louis-based company’s second-quarter earnings call.Weak pricing prompted Contura Energy Inc. to trim its 2019 shipment forecast for met coal by about 5.2%, “rather than being overly aggressive in selling at low returns into the buyer’s market,” CEO David Stetson said on a conference call Wednesday. “It’s prudent to be more conservative given the softness we experienced at the end use markets, most notably Europe and South America.”Investors have watched shares follow met coal prices downward. Peabody has lost almost a quarter of its value since the end of the second quarter, while Ramaco and Contura are both down by more than a third.Prices are unlikely to stay low forever because demand is tied to steel production, which isn’t going away. Global investment in met coal production is low, Ramaco executives said, which will help support prices as demand increases.And the silver lining is that prices may be close to a bottom, according to Daniel Scott, an analyst with Clarksons Platou Securities. While he doesn’t expect steel demand to increase significantly in the near term, especially in China, inventory levels at mills are below average. That could drive sales and provide some stability to the market.“While we think pricing could continue to move slightly lower from today’s levels, we expect it to find a floor soon,” he said in a research note.(Michael R. Bloomberg, the founder and majority stakeholder of Bloomberg LP, the parent company of Bloomberg News, has committed $500 million to launch Beyond Carbon, a campaign aimed at closing the remaining coal-powered plants in the U.S. by 2030 and slowing the construction of new gas plants.)To contact the reporter on this story: Will Wade in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Doan at email@example.com, Reg Gale, Joe CarrollFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Peabody Energy Corporation (NYSE:BTU) stock is about to trade ex-dividend in 4 days time. Ex-dividend means that...
In this article we are going to estimate the intrinsic value of Peabody Energy Corporation (NYSE:BTU) by taking the...
Subsidiaries of hedge fund Elliott Management have bought millions of dollars of the coal miner’s shares, which have lost nearly half their value this year.
ST. LOUIS, Aug. 7, 2019 /PRNewswire/ -- Peabody (BTU) announced today that its board of directors has declared a quarterly dividend of $0.145 per share on the company's common stock, payable on Sept. 11, 2019 to shareholders of record on Aug. 21, 2019. Today's dividend announcement is a $0.005 per share increase from the prior quarter and represents the fourth increase to the company's dividend per share in just over a year. Since initiation, the company's dividend per share has increased approximately 26 percent in recognition of continued strong cash flows. Peabody (BTU) is the leading global pure-play coal company and a member of the Fortune 500, serving power and steel customers in more than 25 countries on six continents. The company offers significant scale, high-quality assets, and diversity in geography and products. Peabody is guided by seven core values: safety, customer focus, leadership, people, excellence, integrity and sustainability. For further information, visit PeabodyEnergy.com.
(Bloomberg) -- Coal miners who’ve been protesting in Kentucky for days after their employer went bankrupt and their paychecks bounced got some relief on Tuesday -- in the form of $1 million from a former coal baron. Ex-Cumberland Resources Ltd. founder Richard Gilliam said he will give $2,000 apiece to 508 workers waiting to be paid by Blackjewel LLC. Gilliam, who started a charitable foundation with his late wife in 2010 after selling Cumberland, said in an emailed statement that he hopes the money “will act as a bridge” for the miners until they’re paid.It’s the latest in a string of breaks for the miners, who for more than a week have blocked tracks near Cumberland, Kentucky, to prevent a train load of coal from leaving a Blackjewel mine. On Monday, the company said it would set aside revenue until the workers are paid. Last week, Peabody Energy Corp., the largest U.S. miner, said it had hired 30 of them.The fate of employees is playing a bigger role in corporate bankruptcies as thousands of workers lose their jobs. The issue has been embraced by some politicians and at least one presidential candidate. Dismissals caused by the collapse of Toys “R” Us Inc. triggered the initial uproar, and saving jobs became a key factor in keeping Sears Holdings Corp. out of liquidation.In Kentucky, national news outlets have chronicled the plight of the miners and their protest. Senate Majority Leader Mitch McConnell and Vermont Senator Bernie Sanders have both expressed support for the workers.Proceeds HeldOn Monday, an attorney representing Blackjewel said during a hearing in Charleston, West Virginia, that the company will hold some of the proceeds from the sale of coal in Harlan County, Kentucky, until workers there are paid. The move comes after Acting U.S. Secretary of Labor Patrick Pizzella asked the court to halt the movement of coal from the mine until workers get June wages.Blackjewel violated the Fair Labor Standards Act by not paying miners for work done in June, making the approximately 100 train cars loaded with coal and sitting in Harlan County “hot goods,” attorneys for the labor department wrote in a motion filed Monday morning.“The portion of the payment that is, in the government’s view, attributable to the coal that is subject to the FLSA, we will not spend,” said Stephen Lerner, partner at Squire Patton Boggs US LLP representing Blackjewel. “We will commit not to spend it.”Legal QuestionsJudge Frank W. Volk said during the hearing -- which some miners attended -- that legal questions remain around the transport and sale of the coal. Volk may hear arguments on the issue as early as Tuesday and said the coal won’t move until the Labor Department motion is resolved.Miners last week worked in shifts blocking railroad tracks to stop a train from leaving a Blackjewel-owned mine outside Cumberland, Kentucky. The railroad operator, CSX Corp., eventually left the coal and removed the engines that were set to pull it.At least 172 employees are owed wages of $664,000 or more for work done in June, according to court papers.The case is Blackjewel LLC, 3:19-bk-30289, U.S. Bankruptcy Court for the Southern District of West Virginia (Huntington).To contact the reporters on this story: Jeremy Hill in New York at firstname.lastname@example.org;Joe Ryan in New York at email@example.comTo contact the editors responsible for this story: Rick Green at firstname.lastname@example.org, ;Lynn Doan at email@example.com, Reg GaleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Going on 16 hours here in Cumberland. Overnight these guys got a megaphone, about 10 pizzas, and some "big boy juice". The #blackjewel coal train still hasn't left. pic.twitter.com/cZ9hsV1RDH ...
Peabody Energy (BTU) reports mixed second-quarter 2019 results, wherein earnings outpace the consensus mark but total revenues miss the same.
Second quarter results supported by strong Shoal Creek performance, solid seaborne thermal contributions and lower costs across multiple segments; Highly synergistic PRB/Colorado joint venture aimed at ...
Alliance Resource Partners' (ARLP) Q2 earnings are largely affected by lower sales volumes & a drop in average selling price per ton of coal.
Being at the center of Peabody Energy Corp.’s remarkably quick exit from Chapter 11 bankruptcy changed Chris Wittenauer. The coal mining giant’s vice president and general counsel, Americas and state government relations, said in order to get out of bankruptcy, “you have to resolve every dispute you’ve had.”
Peabody Energy (BTU) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Peabody Energy (BTU) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
If you're interested in Peabody Energy Corporation (NYSE:BTU), then you might want to consider its beta (a measure of...
United Airlines, Peabody Energy, IBM, Microsoft and Netflix highlighted as Zacks Bull and Bear of the Day
ST. LOUIS , July 10, 2019 /PRNewswire/ -- On Wednesday, July 31, 2019 , Peabody (NYSE: BTU) will announce results for the quarter ended June 30 , 2019. A conference call with management is scheduled for ...