Patriot Coal Corporation (PCX): Today's Featured Basic Materials Loser
Patriot Coal Corporation (PCX) pushed the Basic Materials sector lower today making it today's featured Basic Materials loser. The sector as a whole closed the day up 1.4%. By the end of trading, Patriot Coal Corporation fell 4 cents (-2.8%) to $1.41 on light volume. Throughout the day, 4.8 million shares of Patriot Coal Corporation exchanged hands as compared to its average daily volume of 8.8 million shares. The stock ranged in price between $1.38-$1.53 after having opened the day at $1.52 as compared to the previous trading day's close of $1.45. Other company's within the Basic Materials sector that declined today were: BioFuel Energy Corporation (BIOF), down 10%, YPF Sociedad Anonima (YPF), down 7.8%, ATP Oil & Gas (ATPG), down 7.1%, and GeoMet (GMET), down 6.6%. Patriot Coal Corporation engages in the mining, production, and sale of thermal coal primarily to electricity generators in the eastern United States. It has operations and coal reserves in the Appalachia and the Illinois Basin coal regions. Patriot Coal Corporation has a market cap of $155.1 million and is part of the metals & mining industry. Shares are down 77.6% year to date as of the close of trading on Monday. Currently there are no analysts that rate Patriot Coal Corporation a buy, no analysts rate it a sell, and 13 rate it a hold. TheStreet Ratings rates Patriot Coal Corporation as a sell. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, poor profit margins and weak operating cash flow.
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