US coal stocks soar as Goldman Sachs lifts outlook

WALL Street bank Goldman Sachs has upgraded its view of the Americas coal sector from “neutral” to “attractive” in anticipation of rising demand and stabilising coal prices.
US coal stocks soar as Goldman Sachs lifts outlook US coal stocks soar as Goldman Sachs lifts outlook US coal stocks soar as Goldman Sachs lifts outlook US coal stocks soar as Goldman Sachs lifts outlook US coal stocks soar as Goldman Sachs lifts outlook

 

Blair Price

According to Reuters, Goldman Sachs analyst Brian Singer said expected Chinese economic growth could potentially improve global metallurgical coal supply and balances, reducing the downside pricing risk for next year.

American coal producers surged on the news, with Massey Energy shares climbing 21.89% or $US3.82 on Monday to close at $21.89, while Foundation Coal Holdings shares jumped 15% or $2.70 to $20.67.

Peabody Energy shares gained 11% or $3.20 to $32.18.

Most read Archive

loader

Most read Archive