NEW YORK (TheStreet) -- SunCoke Energy (SXC - Get Report) stock is falling by 8.84% to $6.39 on heavy volume in early afternoon trading on Monday after the company reported financial results for the 2015 third quarter.
About 2.58 million shares of SunCoke Energy were traded by 12:33 p.m. on Tuesday, well above the company's average trading volume of about 832,534 shares a day.
On Monday the company reported a loss of 36 cents per share on revenue of $336.9 million for the most recent quarter.
Performance challenges at the Indiana Harbor cokemaking facility, as well as a $19.4 million impairment to its equity method investment in VISA SunCoke, the company's joint venture in India, were the primary drivers of the loss, according to a statement.
SunCoke Energy was expected to report earnings of 2 cents per share on revenue of $340.20 million for the quarter, according to analysts surveyed by Thomson Reuters.
SunCoke Energy, based in Lisle, IL, is an independent producer of coke, a principal raw material in the blast furnace steelmaking process.
Separately, TheStreet Ratings team rates SUNCOKE ENERGY INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
We rate SUNCOKE ENERGY INC (SXC) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income, good cash flow from operations and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: SXCSXC data by YCharts