JPMorgan (JPM) cited an abundance of shale gas and added that there's a "limited" demand for coking coal in the U.S. and globally, according to Barron's.com.
In addition, analysts added that they expect Peabody Energy to post a loss of 37 cents for the 2016 full year.
Based in St. Louis, Peabody Energy is a private-sector coal company that operates through Western U.S. Mining, Midwestern U.S. Mining, Australian Mining, Trading and Brokerage, and Corporate and Other segments.
About a week ago we profiled Arch Coal here, and the stock more than doubled in that amount of time. Now, Peabody Energy has started to make a move as well.
Peabody has shown some amazing relative strength amid a horrid market decline and brief recovery. The %R shows overbought now, but look at the impressive turnover that has seen buyers fawning all over this stock. The first target here looks like the 200-day Moving Average, about 90% higher from yesterday's close.
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