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Metals and Mining: Weeky Winners and Losers

NEW YORK ( TheStreet) - Solitario Resources (XPL), Patriot Coal (PCX), and CONSOL Energy (CNX - Get Report) were among the top gainers, while Metalline Mining (MMG), Randgold Resources (GOLD - Get Report), and Metalico (MEA - Get Report) 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 - Get Report) and Arch Coal (ACI - Get Report) 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.
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