NEW YORK (TheStreet) -- Shares of Alpha Natural Resources (ANR) closed higher by 8.59% to 34 cents on heavy volume on Monday afternoon, after the Supreme Court ruled that the Obama Administration failed to take into account the cost to companies when deciding to regulate mercury pollution from plants, Reuters reports.
In a 5-4 ruling the court determined that the Environmental Protection Agency must factor in costs when determining if regulation is "appropriate and necessary," Reuters added.
In June of last year a court upheld the EPA regulation. Several industry groups and some states appealed the decision claiming that limiting emission could result in costs of up to $9.6 billion.
By the close of trading on Monday, 9.51 million shares of Alpha Natural Resources had exchanged hands as compared to its average daily volume of 4.98 million shares.
Alpha Natural Resources is a Bristol, VA.-based producer of metallurgical coals for the industrial production of steel and iron.
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 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 poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk."