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.
CONSOL Energy, a multi-fuel energy producer and energy services provider, gained 8.7% during the last week. During the week, the company revealed that it would idle Emery mine as the company's production costs are higher than those of the regional competitors, in addition to current market conditions. Meanwhile, another coal company James River Coal ( JRCC) increased 7.9% during the week. Steel industry experts estimate that steel prices are likely to increase by $25-$30 per tonne in the upcoming 3-4 months mainly due to growth in the auto sector, according to a Bedford Research Report. Car production is seen rising by almost 50% in the coming years as consumer demand increases. Therefore, companies like AK Steel Holding ( AKS), Steel Dynamics ( STLD) and U.S. Steel ( X) are poised for robust growth in the future. The three companies accumulated 7.8%, 3.4% and 1.6% respectively during the last week. Among losers, Metalline Mining plunged 6.3% during the past week. Following the list, Randgold Resources was down 4.1%. Randgold in a recent report revealed that its fourth quarter production will be adversely affected by the political tension in Ivory Coast on its Tongon mine and also due to the blow the expected contribution from its Loulo project in Mali. Also, Metallico was down 2.4% during the last week. Silver Wheaton ( SLW) was down 2.2% mainly dragged down by lower silver futures during the past week. During the week, Aurcana completed the buyback of the Silver Stream Purchase Agreement entered with the wholly owned subsidiary of Silver Wheaton, Silver Wheaton Caymans. The consideration of the termination comprised of $25 million payment and a final silver settlement of 206,000 ounces. ArcelorMittal ( MT) was down 1.5%. Fitch Ratings affirmed the company's Long-term Issuer Default Rating (IDR) and senior unsecured rating at BBB, and affirmed the Short-term IDR at F2. It added that the outlook on the long-term IDR is negative.