The mining company said that one of the mines it is idling was included in its Worker Adjustment and Restraining Notification notices in July. The three mines shipped a total of 760,000 tons of steam coal and 760,000 tons of metallurgical coal in the first half of 2014.
Following the announcement of the idled mines, Brean Capital analyst Lucas Pipes wrote, "We are encouraged that the company is moving diligently to reduce its cost profile in CAPP, but remain cautious on near-term improvements in the met coal market to provide any additional uplift."
TheStreet Ratings team rates ALPHA NATURAL RESOURCES INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate ALPHA NATURAL RESOURCES INC (ANR) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, poor profit margins and generally high debt management risk."
You can view the full analysis from the report here: ANR Ratings Report