NEW YORK (TheStreet) - Solitario Resources (XPL), Patriot Coal (PCX), and CONSOL Energy (CNX) were among the top gainers, while Metalline Mining (MMG), Randgold Resources (GOLD), and Metalico (MEA) topped the losers' list last week.
Last week, Solitario Resources surged around 33.3% after the announcement that the company entered into a definitive joint venture agreement with Ely Gold & Minerals for the Mt. Hamilton gold project in Nevada. Subsequent to the completion of various staged commitments towards the project, Solitario would earn a 80% interest in DHI Minerals, Ely's wholly owned subsidiary.
During the past week, most of the coal companies were upgraded to a higher rating with a increase in the price targets as compared to the earlier ones. Patriot Coal advanced 12.5% after the company was upgraded to "outperform rating" from the earlier "market perform" rating at FBR Capital.
Based on the company's company ability to leverage higher coal prices, analysts at FBR raised price target to $21 from the earlier target of $16, indicating an upside of 14.8% from current levels. In comparison, competitors like Peabody Energy (BTU) and Arch Coal (ACI) have a price to book ratio of 4.39 and 2.47 respectively, while Patriot is trading at 1.61 indicating room for further growth.Arch Coal gained 7.1% last week. During the last week FBR Capital raised its price target for Arch Coal to $50 from the earlier estimated price of $42, while reassigning the outperform rating. Meanwhile, Alpha Natural Resources (ANR) was up 7.4% during the week. Analysts at FBR Capital raised the stock's target price to $68 from the earlier $58. Last week, Alpha placed a takeover offer for competitor Massey Energy (MEE). Massey was up 5.5% during the past week. Peabody gained 4.7% during the week after its price target was raised by FBR Capital to $75 from the previous target of $61. Asia, mainly China and India, are driven by challenging legal and climatic fears in the domestic markets with regards coal production, according to analysts. As these markets seek to shop around the world for more and more fuel supplies Peabody and Arch are busy are looking out for coal exporting deals to Asia. Peabody has already invested $2 billion in Australian mining operations and has business offices in Beijing, Singapore and Indonesia.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV