NEW YORK (TheStreet) -- Shares of Walter Energy (WLT) plummeted more than 11.5% to $2.45 in afternoon trading Tuesday after BB&T Capital Markets predicted the metallurgical coal producer and exporter would file for bankruptcy in 2015.
The firm issued a research note Tuesday with predictions on the coal sector for 2015, and one of the predictions was Walter Energy would file for bankruptcy next year.
Walter Energy has declined more than 80% so far this year. The stock holds a 52-week high of $17.42 and a 52-week low of $1.47, which it hit in October. The stock had an intraday low of $2.41 and an intraday high of $2.75 as of 1:12 p.m. on Tuesday.
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Separately, TheStreet Ratings team rates WALTER ENERGY INC as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate WALTER ENERGY INC (WLT) 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 disappointing return on equity, poor profit margins, generally disappointing historical performance in the stock itself and generally high debt management risk."