NEW YORK (TheStreet) -- Shares of Peabody Energy (BTU) , the world's largest private-sector coal company, fell 4.31% to $11.10 in early afternoon trading Thursday after the U.S. and China announced a landmark climate change agreement on Wednesday.
U.S. President Barack Obama and Chinese President Xi Jinping announced the two nations would reduce their greenhouse emissions during the next few decades. The U.S. would cut its 2005 level of carbon emissions by 26% to 28% prior to 2025 under the terms of the deal. China would peak its carbon emissions by 2030 and would try to get 20% of its energy from zero-carbon emission sources by 2030.
"As the world's two largest economies, energy consumers and emitters of greenhouse gases, we have a special responsibility to lead the global effort against climate change," Obama said Wednesday in a joint news conference with Xi.
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The deal marks the first time China has agreed to peak its carbon emissions, according to CNN.
Peabody Energy issued a statement Wednesday in support of the two nations' decision.
Separately, TheStreet Ratings team rates PEABODY ENERGY CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate PEABODY ENERGY CORP (BTU) a SELL. This is driven by a few notable 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 unimpressive growth in net income, generally high debt management risk, poor profit margins, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."