Patriot Coal (PCX), Targa Resources Partners LP (NGLS), Schnitzer Steel (SCHN), Yingli Green Energy Hold. Co. Ltd. (YGE), Trina Solar (TSL), Bankers, Inc. (CFR) and E TRADE Financial Co. (ETFC) had ratings and price targets on them adjusted by analysts.
Goldman Sachs upgraded Patriot Coal (PCX) from a "Sell" rating to a "Neutral" rating.
JPMorgan Chase & Co. initiated coverage on Targa Resources Partners LP (NGLS). They placed an "Overweight" rating on the company.
Davenport downgraded Schnitzer Steel (SCHN) from a "Buy" rating to a "Neutral" rating.
Barclays Capital initiated coverage on Yingli Green Energy Hold. Co. Ltd. (YGE). They placed an "Equal Weight" rating.
Barclays Capital initiated coverage on Trina Solar (TSL). They placed an "Equal Weight" rating.
Wunderlich Cullen/Frost downgraded Bankers, Inc. (CFR) from a "Buy" rating to a "Hold" rating.
Wells Fargo & Co. upgraded E TRADE Financial Co. (ETFC) from a "Market Perform" rating to a "Outperform" rating.
Showing posts with label Patriot Coal. Show all posts
Showing posts with label Patriot Coal. Show all posts
Monday, March 19, 2012
Thursday, December 1, 2011
Phoenix (FENG) (MBI) (PCX) (SRI) (MPX) (BID) Biggest NYSE Gainers
Phoenix New Media (FENG), MBIA Inc. (MBI), Patriot Coal Corp. (PCX), Stoneridge, Inc. (SRI), Marine Products Corp. (MPX) and Sotheby’s (BID) were the biggest gainers on the NYSE.
Phoenix New Media (FENG) ended the session up 19.00 percent, closing at $6.20. They traded in a range of $5.33 to $6.36. A total of 434,055 shares changed hands.
MBIA Inc. (MBI) ended the session up 18.60 percent, closing at $9.69. They traded in a range of $8.25 to $9.77. A total of 10,249,438 shares changed hands.
Patriot Coal Corp. (PCX) ended the session up 18.43 percent, closing at $10.28. They traded in a range of $9.32 of $10.34. A total of 8,680,831 shares changed hands.
Stoneridge, Inc. (SRI) ended the session up 18.12 percent, closing at $8.15. They traded in a range of $7.51 to $8.31. A total of 468,525 shares changed hands.
Marine Products Corp. (MPX) ended the session up 17.77 percent, closing at $5.70. They traded in a range of $5.04 to $6.00. A total of 73,678 shares changed hands.
Sotheby’s (BID) ended the session up 16.22 percent, closing at $31.17. They traded in a range of $28.16 to $31.27. A total of 1,849,283 shares changed hands.
Phoenix New Media (FENG) ended the session up 19.00 percent, closing at $6.20. They traded in a range of $5.33 to $6.36. A total of 434,055 shares changed hands.
MBIA Inc. (MBI) ended the session up 18.60 percent, closing at $9.69. They traded in a range of $8.25 to $9.77. A total of 10,249,438 shares changed hands.
Patriot Coal Corp. (PCX) ended the session up 18.43 percent, closing at $10.28. They traded in a range of $9.32 of $10.34. A total of 8,680,831 shares changed hands.
Stoneridge, Inc. (SRI) ended the session up 18.12 percent, closing at $8.15. They traded in a range of $7.51 to $8.31. A total of 468,525 shares changed hands.
Marine Products Corp. (MPX) ended the session up 17.77 percent, closing at $5.70. They traded in a range of $5.04 to $6.00. A total of 73,678 shares changed hands.
Sotheby’s (BID) ended the session up 16.22 percent, closing at $31.17. They traded in a range of $28.16 to $31.27. A total of 1,849,283 shares changed hands.
Monday, October 25, 2010
Patriot Coal (NYSE:PCX) Challenged by Rising Costs, Geological Conditions
Citing probably operational inconsistency based on rising costs and geological conditions, Patriot Coal (NYSE:PCX) had their "Market Perform" rating maintained on them by FBR Capital.
"We are lowering our 2011 and 2012 estimates on Patriot Coal by an average of 4% and keeping our 4Q10 estimates unchanged after the company announced lower-than-expected 3Q10 earnings and steam coal sales outlook yesterday. However, we boosted our 2011 met coal volume slightly as the company laid out its growth pipeline and highlighted multiple levers it can pull to achieve that growth. While we like the progress made by PCX as it builds out its met production and opportunistically locks in favorable contracts, we continue to be concerned about tough geological conditions and rising costs, which create operational choppiness," said FBR.
Patriot was down $0.18 Friday, closing at $12.81, losing 1.39 percent percent. FBR has a price target of $18 on them, increasing it from $16.
"We are lowering our 2011 and 2012 estimates on Patriot Coal by an average of 4% and keeping our 4Q10 estimates unchanged after the company announced lower-than-expected 3Q10 earnings and steam coal sales outlook yesterday. However, we boosted our 2011 met coal volume slightly as the company laid out its growth pipeline and highlighted multiple levers it can pull to achieve that growth. While we like the progress made by PCX as it builds out its met production and opportunistically locks in favorable contracts, we continue to be concerned about tough geological conditions and rising costs, which create operational choppiness," said FBR.
Patriot was down $0.18 Friday, closing at $12.81, losing 1.39 percent percent. FBR has a price target of $18 on them, increasing it from $16.
Thursday, October 7, 2010
Patriot Coal (NYSE:PCX) Downgraded by Brean Murray
Patriot Coal (NYSE:PCX) was downgraded by Brean Murray from "Buy" to "Hold," citing pricing and costs.
Brean said, "This downgrade is mostly due to our less bullish pricing expectations for lower-quality met coal and continued production/cost uncertainty. Patriot has had a number of unexpected issues over the past 4 months, resulting in low investor sentiment. We believe it's now a bit of a 'Show-Me' story."
Investors shrugged off the downgrade, as Patriot surged to close Wednesday at $13.24, gaining $0.75, or 6 percent.
Brean said, "This downgrade is mostly due to our less bullish pricing expectations for lower-quality met coal and continued production/cost uncertainty. Patriot has had a number of unexpected issues over the past 4 months, resulting in low investor sentiment. We believe it's now a bit of a 'Show-Me' story."
Investors shrugged off the downgrade, as Patriot surged to close Wednesday at $13.24, gaining $0.75, or 6 percent.
Wednesday, September 15, 2010
UBS (NYSE:UBS) Reiterates "Buy" on Patriot (NYSE:PCX)
UBS (NYSE:UBS) said it is maintaining its "Buy" on Patriot Coal (NYSE:PCX), saying the acknowledged challenges for the company are already reflected in the share price.
"We are increasing our 2010 Loss Per Share est. to $1.46 from $0.87, to reflect the production shortfall and corresponding increase in costs per ton...At $11.50 a share we believe the challenges are priced in and would look to add to positions, especially on this related weakness," said UBS.
UBS did lower the price target on Patriot from $25 to $25.
Patriot closed Tuesday at $11.14, dropping $0.25, or 2.19 percent.
"We are increasing our 2010 Loss Per Share est. to $1.46 from $0.87, to reflect the production shortfall and corresponding increase in costs per ton...At $11.50 a share we believe the challenges are priced in and would look to add to positions, especially on this related weakness," said UBS.
UBS did lower the price target on Patriot from $25 to $25.
Patriot closed Tuesday at $11.14, dropping $0.25, or 2.19 percent.
Thursday, August 26, 2010
Coal Producers Peabody Energy (NYSE:BTU), Massey (NYSE:MEE), Alpha (NYSE:ANR), Consol (NYSE:CNX), Plunge on Recession Concerns
Coal firms Peabody Energy (NYSE:BTU), Alpha Natural Resources Inc. (NYSE:ANR), Massey Energy Co. (NYSE:MEE) and Consol Energy Inc. (NYSE:CNX) all plummeted in Wednesday's trading, as economic data continue to confirm we remain in a recession, with little hope of exiting it anytime soon.
Consol Energy could come under even more pressure, not only because of their coal exposure, but their natural gas exposure, which would be under pressure because of enormous supply, whether there was a recession or not.
With stimulus money leaving the economy, its naked state has again been exposed, and it is as weak as ever, putting pressure on providers of energy and raw materials.
Following on the footsteps of the horrid figures for house sales yesterday, new data showed the sales of new homes also plunged, down 12 percent, from June. That would put sales at the lowest level since statistics have been kept - 276,000 annually.
There is no doubt the slowdown will continue, and companies and investors should respond to that accordingly.
After all, if about $1 trillion in stimulus can do absolutely nothing to change the economy, adding another $1 trillion won't either, and it would be foolish and criminal to place that over the heads of the American people, as some are calling for the Federal Reserve and government to do.
While Arch Coal (NYSE:ACI) also fell in price, and exception was Patriot coal (NYSE:PCX), who managed to end Wednesday's trading session at $10.60, gaining $0.21, or 2.02 percent.
The only news there was Patriot's president and chief operating officer, Paul H. Vining, was stepping down.
Consol Energy could come under even more pressure, not only because of their coal exposure, but their natural gas exposure, which would be under pressure because of enormous supply, whether there was a recession or not.
With stimulus money leaving the economy, its naked state has again been exposed, and it is as weak as ever, putting pressure on providers of energy and raw materials.
Following on the footsteps of the horrid figures for house sales yesterday, new data showed the sales of new homes also plunged, down 12 percent, from June. That would put sales at the lowest level since statistics have been kept - 276,000 annually.
There is no doubt the slowdown will continue, and companies and investors should respond to that accordingly.
After all, if about $1 trillion in stimulus can do absolutely nothing to change the economy, adding another $1 trillion won't either, and it would be foolish and criminal to place that over the heads of the American people, as some are calling for the Federal Reserve and government to do.
While Arch Coal (NYSE:ACI) also fell in price, and exception was Patriot coal (NYSE:PCX), who managed to end Wednesday's trading session at $10.60, gaining $0.21, or 2.02 percent.
The only news there was Patriot's president and chief operating officer, Paul H. Vining, was stepping down.
Tuesday, July 27, 2010
Patriot Coal (NYSE:PCX) Losses Less Than Expected, Lowers Sales Guidance
Patriot Coal (NYSE:PCX) wasn't able to generate the number it did last year in the same quarter, and its earnings suffered, with losses of $13.6 million, or 15 cents a share. Last year they enjoyed a profit of $31.4 million, or 39 cents a share.
Revenue managed to beat expectations, with the company posting $539 million, above the $526.1 million analysts were expecting. That was a six percent improvement over estimates.
Patriot lowered its sales guidance from 33 million to 35 million, down to 32 million to 34 million.
With the company having to shut down or close two coal mines off and on throughout the year, production questions have arisen as to their ability to grow the unit which produces coal for the making of steel.
The company said in their report they had concerns over the regulatory environment causing the cost per ton to increase while production decreases.
Revenue managed to beat expectations, with the company posting $539 million, above the $526.1 million analysts were expecting. That was a six percent improvement over estimates.
Patriot lowered its sales guidance from 33 million to 35 million, down to 32 million to 34 million.
With the company having to shut down or close two coal mines off and on throughout the year, production questions have arisen as to their ability to grow the unit which produces coal for the making of steel.
The company said in their report they had concerns over the regulatory environment causing the cost per ton to increase while production decreases.
Saturday, May 8, 2010
Patriot Coal (NYSE:PCX), Massey Energy (NYSE:MEE), Alpha Natural Resources (NYSE:ANR), Peabody Energy (NYSE:BTU), Arch Coal (NYSE:ACI), Consol Energy (NYSE:CNX)- All Down
Coal companies took a big hit, as major coal companies like Patriot Coal (NYSE:PCX), Massey Energy (NYSE:MEE), Alpha Natural Resources (NYSE:ANR), Peabody Energy (NYSE:BTU), Arch Coal (NYSE:ACI), Consol Energy (NYSE:CNX) were all down on concerns over the European sovereign debt crisis.
With the risk of contagion very real, many think the sovereign debt debacle in Europe could bring the economy back into a deep recession, which is debatable as to whether or not it has really ever left.
Coal is a bellwhether of the economy, and so usually how coal goes, so the economy is also going, and the market shows there is a growing concern over whether or not the global economy can take a hit as big as it looks like it will with the countries in Europe.
With the risk of contagion very real, many think the sovereign debt debacle in Europe could bring the economy back into a deep recession, which is debatable as to whether or not it has really ever left.
Coal is a bellwhether of the economy, and so usually how coal goes, so the economy is also going, and the market shows there is a growing concern over whether or not the global economy can take a hit as big as it looks like it will with the countries in Europe.
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