Today’s Trade Alerts include: James River Coal Company (Nasdaq: JRCC), Fording Canadian Coal Trust (NYSE: FDG), Arch Coal Inc. (NYSE: ACI), CONSOL Energy Inc. (NYSE: CNX), Massey Energy Company (NYSE: MEE), and Peabody Energy Corp. (NYSE: BTU).
“James River Coal Company (JRCC) shares slipped 1.93% to $44.15 in Friday’s mid-morning trading. James River, through its subsidiaries, engages in mining, processing and selling bituminous, steam and industrial-grade coal in eastern Kentucky and southern Indiana....
“James River recently said it reached deals to ship 7.35 million tons of Central Appalachian coal at an average price of $125.10 per ton from 2008 to 2011. A year earlier, the coal priced at an average of $50 per ton…
“As crude oil prices recently rallied, James River shares rose and analysts see strong coal fundamentals. In a client note, Davenport & Co. analyst Robert L. Chewning increased his forecast for 2009 to $7.52 per share, up from a prior view of $6.11 per share, and lifted his 2010 outlook to a per-share profit of $6.70 from $5.74...”
“Fording Canadian Coal Trust (FDG) shares climbed less than 1% to $89.22 Friday near noon. Fording operates as an open-ended mutual fund trust in Canada. It offers its products in Asia, Europe, North America and South America…
“Fording has recently entered into an agreement to sell all of its assets to Teck Cominco Limited by way of a plan of arrangement, pursuant to which Fording unitholders will receive $93.76 per unit payable in a combination of $82 cash and 0.245 of a Teck Cominco Class B subordinate voting share per Fording unit…
“The company said it is expected that the Fording unitholder meeting to consider the transaction will occur in late September 2008 and such transaction will be completed in late October 2008…”
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