Coal stocks are getting slaughtered this morning after Alpha Natural Resources Inc. (NYSE:ANR) projects a drop in coal production to 102.5 million tons versus 109.5 million tons last year. Walter Energy (NYSE:WLT) also claims coal shipments will slow due to a lull in demand.
Investing Insights: Oil ETFs: The Top 10 Exchange Traded Funds for Your Oil Investing List.
Alpha Natural Resources’s (NYSE:ANR) stock is down 7.28% to $24.95 on the news. Shares are down 58.43% year to date. The stock has traded in a 52-week range between $23.90 and $68.05. Walter Energy’s (NYSE:WLT) stock is down 9.35% to $68.03 on the news. Shares are down 46.82% year to date. The stock has traded in a 52-week range between $63.88 and $143.76.
The entire coal sector is in play this morning. Keep your eye on: Market Vectors Coal ETF (NYSE:KOL), Peabody Energy Corporation (NYSE:BTU), Patriot Coal Corporation (NYSE:PCX), Cliffs Natural Resources Inc (NYSE:CLF), Arch Coal Inc (NYSE:ACI), James River Coal Company (NASDAQ:JRCC), and CONSOL Energy (NYSE:CNX).