Stocks Had a Great September. Coal Stocks, Anyway.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 62 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 97%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

Shares of coal miners Alpha Metallurgical, Warrior Met Coal, Arch Resources, Consol Energy, and Peabody Energy logged double-digit-percentage gains in...

Shares of Alpha Metallurgical Resources , Warrior Met Coal , and Arch Resources , producers of metallurgical coal, which is primarily used for steel production, soared 28%, 29%, and 31%, respectively, in September. Consol Energy and Peabody Energy , producers of both met coal and thermal coal, used for electrical generation, saw shares gain 22% and 20% the same month.

Investors couldn’t fault VanEck. Institutional pledges in the name of environmental, social, and governance goals to cut investments in companies that produced carbon emissions have worn down the sector. The Trump administration had pledged to revive coal as an energy source, but it couldn’t fight falling demand and cheaper alternatives in the form of natural gas and renewables. More than a dozen U.S. coal companies filed bankruptcy during Trump’s presidency.

The next year was a doozy for stocks in general, but three of the coal stocks nearly tripled, while Warrior Met Coal and Arch Coal shares logged respective 2022 gains of 35% and 56%. That year saw 19% wiped away from the S&P 500, while the Nasdaq dove 33%. Madrid-based azValor Asset Management had owned Consol stock a few years ago but exited the investment “a notch under $85″ after a run-up from $3.50 to $3.60, according to an email from Álvaro Guzmán de Lázaro, founding partner, CEO, and co-chief investment officer. He added, “We do own Arch and we’re one of the biggest holders there.” An August filing with the Securities and Exchange Commission shows azValor owns more than 900,000 Arch shares, a stake of just over 5%.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 3. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Energy company 'doubling down on costly, dirty coal' to power massive EV battery plantPanasonic's $4 billion EV plant is drawing criticism after the shutdown of a Kansas coal plant was halted in order to fulfill its' massive electricity demand.
Fonte: FoxNews - 🏆 9. / 87 Consulte Mais informação »

'Fertile ground': Goldman names stocks to tap a $6 trillion renewables market, gives one 58% upsideThe share of electrification as an energy source is set to rise, and it's time to revisit some major clean energy stocks, the investment bank says.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

European stocks steady as banks offset declines in utilities By ReutersEuropean stocks steady as banks offset declines in utilities
Fonte: Investingcom - 🏆 450. / 53 Consulte Mais informação »