NEW YORK (TheStreet) -- Shares of Alpha Natural Resources Inc. (ANR) are climbing higher by 4.53% to $2.54 in late afternoon trading on Thursday, as the coal sector continues to rise following Tuesday's election results.
With a Republican majority in Congress coal miners are expecting the party, led by Senator Mitch McConnell, will oppose the EPA's restrictions on coal as well as other environmental regulations they consider to be "burdensome," Bloomberg reports.
Republicans will also seek to approve the Keystone XL Pipeline as they now possess the number of supporting votes needed to move the project forward.
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"I think you're going to see us bring up energy legislation right away and Keystone will be one of the first things we pass," North Dakota Republican Senator John Hoeven said, according to Fox News.
Separately, 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 multiple weaknesses, 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."