5. Walter Energy ( WLT), produces and exports metallurgical coal for the global steel industry and also produces steam coal, CBM gas (natural gas), metallurgical coke and other related products. Walter's operating business segments are: underground mining, surface mining, and Walter Coke. Net income for the first quarter of 2011 almost doubled to $81.8 million or $1.53 per diluted share, compared to $41.6 million or 77 cents per diluted share in year-ago quarter. Revenue increased to $408.7 million from $312 million. Early May this year, Walter announced the execution of mineral leases for approximately 75 million tons of recoverable Blue Creek coking coal reserves in Tuscaloosa County, Alabama, from a Chevron subsidiary. These reserves would pave the way for a strategic opportunity to assemble approximately 170 million tons of high-quality coking coal reserves for the development of a new underground, long-wall coking coalmine. Capital expenditure for 2011 is forecast between $500 and $540 million, including expansion of Walter's Canadian operations. Full year 2011 metallurgical coal sales from its Alabama underground and surface operations are pegged to range from 7.5 to 8.0 million tons and 1.4 to 1.6 million tons, respectively. Of the 17 analysts covering the stock, 82% recommend a buy and the remaining rate a hold. There are no sell ratings on the stock. Data from Bloomberg has analysts reporting an average 12-month price target of $157.67, which is 34.4% higher than the stock's current price.