Alpha Natural Resources Upgraded to “Market Perform” at Raymond James (ANR)
Alpha Natural Resources (NYSE:ANR) was upgraded by analysts at Raymond James from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports.
The analysts wrote, “After focusing on cost cutting initiatives over the past 18 months, Alpha announced a further planned $200 million reduction to costs with its 2014 guidance. If achieved, it represents a swing to free cash flow positive in 2015, under our current met price assumption of $170/mt. Given its current liquidity position, reduced financial covenants through 2016 and improved cost outlook, we are upgrading ANR to Market Perform from Underperform. We still want to get better visibility on a met pricing recovery before getting more constructive, with a keen eye on China’s sustainability and recovery in Europe/Latin America.”
A number of other firms have also recently commented on ANR. Analysts at UBS AG downgraded shares of Alpha Natural Resources from a “market perform” rating to an “underperform” rating in a research note to investors on Friday, October 18th. Separately, analysts at BMO Capital Markets downgraded shares of Alpha Natural Resources from a “market perform” rating to an “underperform” rating in a research note to investors on Friday, October 18th. They now have a $4.00 price target on the stock, down previously from $5.00. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of Alpha Natural Resources from a “sell” rating to a “neutral” rating in a research note to investors on Friday, September 27th. They now have a $6.00 price target on the stock, up previously from $4.00. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $8.17.
Alpha Natural Resources (NYSE:ANR) traded up 2.86% on Friday, hitting $7.20. 4,790,504 shares of the company’s stock traded hands. Alpha Natural Resources has a 1-year low of $4.78 and a 1-year high of $10.74. The stock has a 50-day moving average of $6.17 and a 200-day moving average of $6.1. The company’s market cap is $1.591 billion. Alpha Natural Resources also was the target of unusually large options trading on Thursday. Stock investors acquired 16,242 call options on the stock. This is an increase of approximately 144% compared to the average volume of 6,649 call options.
Alpha Natural Resources (NYSE:ANR) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.61) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.77) by $0.16. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company posted ($0.16) earnings per share. The company’s quarterly revenue was down 27.1% on a year-over-year basis. On average, analysts predict that Alpha Natural Resources will post $-2.49 earnings per share for the current fiscal year.
Alpha Natural Resources, Inc (NYSE:ANR) is a supplier and exporter of metallurgical coals for use in the steel-making process and a supplier of thermal coal to electric utilities and manufacturing industries, as well as a exporter of thermal coal.
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