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Fly News Breaks for February 26, 2019
TECK, ARCH
Feb 26, 2019 | 08:32 EDT
B. Riley FBR analyst Lucas Pipes added Arch Coal (ARCH) to his firm's Alpha Generator Pick list in place of Teck Resources (TECK). Arch is the analyst's favorite name in the met coal space due to its "strong" cash flow generation profile, "accommodating" capital return policy, and "attractive" growth project with Leer South. He has a Buy rating on the shares with a $125 price target.
News For ARCH;TECK From the Last 2 Days
ARCH
Mar 26, 2024 | 16:25 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
ARCH
Mar 26, 2024 | 14:50 EDT
Jefferies lowered the firm's price target on Arch Resources to $185 from $190 and keeps a Buy rating on the shares following this morning's tragic bridge collapse in Baltimore. The Port of Baltimore ships about 22M tons of coal per year, of which 7M-8M tons is met coal, and Arch exports about 4.5M tons of met coal per year via Curtis Bay, the analyst tells investors. While acknowledging that the supply shock should be supportive of met coal prices, the firm lowered its Arch estimates based on reductions to its forecasts for shipments.
ARCH
Mar 26, 2024 | 12:52 EDT
Shares of companies with exposure to coal are moving lower following the collapse of the Francis Scott Key Bridge in Baltimore. The bridge provides the entryway to the Helen Delich Bentley Port of Baltimore, the largest port in the U.S. for specialized cargo, and is also a gateway for bulk cargo like coal and petroleum products. Baltimore was the top loading location for U.S. thermal coal exports in 2023, according to the U.S. Census Bureau. Consol Energy (CEIX) says on its website that its Baltimore Marine terminal is one of two coal export terminals on the Eastern Seaboard with the ability to serve the largest ocean-going ships in the world, and the only one served by two rail lines. Shares of Consol Energy are down 8% to $79.86 in afternoon trading while Arch Resources (ARCH) is down 3% and Peabody Energy (BTU) is down 1%.