NEW YORK (TheStreet) -- Shares of Peabody Energy Corp. (BTU) are down 7.22% to $9.38 after the company reaffirmed its prior guidance regarding 2014 coal sales volumes, projecting a 2% to 4% decrease in revenues per ton compared to the prior year, in the U.S.
The Missouri-based coal company continues to target full-year 2014 sales volumes of 245 to 255 million tons, including U.S. sales of 185 to 190 million tons and Australian sales of 36 to 38 million tons.
Peabody's targeted 2014 Australian sales volumes include 16 to 17 million tons of metallurgical coal and 12 to 13 million tons of seaborne thermal coal.
Additionally, Peabody continues to expect a 1% to 3% decrease in its U.S. operating costs and expenses per ton in 2014 compared to the prior year, and Australian operating costs and expenses of approximately $70 per ton.
The company guided 2014 capital spending levels of $200 to $220 million.
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 several 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, weak operating cash flow and generally disappointing historical performance in the stock itself."