Coal mining stocks made a nice move Friday, along with other energy stocks, as major coal companies like Consol Energy (NYSE:CNX), Yanzhou Coal Mining (NYSE:YZC) and Peabody Energy (NYSE:BTU) ended all up, and smaller coal miners such as International Coal Group (NYSE:ICO), Puda Coal (AMEX:PUDA) and Westmoreland Coal (AMEX:WLB) all closed up five percent or more.
The Market Vectors Coal ETF (NYSE:KOL) also made a big move, closing at $39.57, gaining $0.78, or 2.01 percent.
The usual announcement by some government around the world, in this case, South Africa, came announcing they're going to cut back on coal usage, but the fact remains coal is still a major part of generating electricity around the world, and that isn't going to change any time soon, in spite of assertions to the contrary.
Analysts like Walter Energy Walter Energy (NYSE:WLT) among all the coal miners, which has soared over the last three months, closing up Friday at $85.67, gaining $4.26, or 5.23 percent.
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