NEW YORK (
Yanzhou Coal Mining
(MGN) posted strong gains last week, while
(GRZ) lost ground.
Walter Energy emerged as the top gainer last week, jumping 26.7%.
The stock rallied during the past week on speculation of a takeover bid from
Furthermore, the newspaper added that Brazil's
Cia. Siderurgica Nacional SA
may also bid for the company. Vale added 8.8% at close last week.
Yanzhou Coal Mining surged 24.7% at the end of past week.
A Hong Kong-based analyst at UOB-Kay Hian said China's coal prices are likely to rise during the current quarter as inventories at loading stations on the Daqi Railway are extremely low or absent. Daqi accounts for one-third of the country's coal deliveries by rail. Mines Management followed with a 21.5% increase.
James River Coal
rose 20.1% and 20.0%, respectively, last week. During the past week, insiders of JRCC sold almost 1 million shares, or 2.9%, of the total outstanding shares of the company.
Golden Star Resources
increased 19.6% and 19%, respectively, last week.
For the first half of 2011, Mechel recorded a 47.9% increase in its revenue from external customers while net income surged to $501.02 million from $120.82 million in the year-ago period.
Alpha Natural Resources
Cliffs Natural Resources
jumped 17.7% and 16.7%, respectively.
gained 15% after the company announced that its natural gas division produced a record 40.4 Bcf in its third quarter, almost a 13% increase from the year ago period.
rose 14.9% after the company's ADRs were upgraded to buy from hold by Dahlman Rose research analysts with a price target of $34. That target implies 70.2% upside from current levels.
was up 14.3% last week after the company announced that third quarter 2011 production continues to increase.
Silver production for the third quarter 2011 was up 8% to 858,738 ounces while gold production increased 7% to 4,926 ounces from the third quarter of 2010. Also, the company said revenue soared 93% to $38.8 million, led by 120% and 35% increases, respectively, in realized silver and gold prices.