NEW YORK (TheStreet) -- Shares of Peabody Energy (BTU) are falling, down 4.25% to $7.44 in Thursday afternoon trading, extending its losses for the week as U.S. crude oil futures fell below $60 a barrel for the first time in five years on oversupply fears, CNBC reports.
WTI crude was down 96 cents to $59.98 per barrel as of 2:18 p.m., after hitting a session low at $59.85.
Traders warned that a bottom for crude oil remained elusive after a six month selloff, CNBC added.
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St. Louis, MO-Based Peabody Energy is a private sector coal company that owns interests in 28 active coal mining operations located in the U.S. and Australia.
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, weak operating cash flow and generally disappointing historical performance in the stock itself."