NEW YORK (TheStreet) -- Shares of Alpha Natural Resources (ANR) rose 5.33% to $1.78 in early afternoon trading Tuesday after the metallurgical and thermal coal producer announced the completion of its sale of Amfire Mining Assets to Rosebud Mining.
The previously announced transaction was valued at approximately $86 million, including $75 million in cash and the assumption of certain liabilities. The assets sold include 10 mines and four preparation plants and loadouts in Cambria, Centre, Clearfield, Elk, Greene, Indiana, and Somerset counties in Pennsylvania.
Affiliates of Alpha Natural Resources still operate two mines in southwestern Pennsylvania unrelated to the sale, the Emerald and Cumberland mines near Waynesburg. More than 1,100 workers labor at these mines in Greene County.
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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 a number of negative factors, 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, weak operating cash flow, poor profit margins, generally disappointing historical performance in the stock itself and generally high debt management risk."