NEW YORK (TheStreet) -- Shares of Cloud Peak Energy (CLD) - Get Report are surging 24.82% to $3.42 on heavy trading volume Friday afternoon after the company reported better-than-expected results for the 2016 second quarter.

After yesterday's closing bell, the Gillette, WY-based coal producer reported adjusted earnings of 48 cents per share, while analysts were expecting a loss of 31 cents per share.

Revenue for the quarter was $174.2 million, above analysts' forecasts of $169.7 million.

Shipments were 11.8 million tons, down from 16 million tons last year.

"As expected, shipments remained low during much of the second quarter, resulting in the company's production being 26% lower than the second quarter of 2015," Cloud Peak said in a statement.

About 7.25 million of the company's shares changed hands today vs. its average 30-day volume of 1.14 million

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.

The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, weak operating cash flow and generally disappointing historical performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: CLD

Image placeholder title