Cloud Peak Energy Inc. (CLD) Bonds Trading 1.5% Higher
An issue of Cloud Peak Energy Inc. (NYSE:CLD) bonds rose 1.5% against their face value during trading on Wednesday. The high-yield issue of debt has a 8.5% coupon and will mature on December 15, 2019. The debt is now trading at $75.00 and was trading at $76.00 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.
Several research firms have weighed in on CLD. Zacks Investment Research upgraded shares of Cloud Peak Energy from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a research report on Friday, July 29th. FBR & Co raised their price objective on shares of Cloud Peak Energy from $1.25 to $1.75 and gave the company an “underperform” rating in a research report on Friday, July 29th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Cloud Peak Energy currently has an average rating of “Hold” and an average price target of $6.28.
Cloud Peak Energy Inc. (NYSE:CLD) opened at 4.57 on Thursday. The stock has a 50 day moving average of $3.78 and a 200 day moving average of $2.57. Cloud Peak Energy Inc. has a 52 week low of $1.08 and a 52 week high of $4.75. The company’s market cap is $269.66 million.
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Cloud Peak Energy (NYSE:CLD) last announced its earnings results on Thursday, July 28th. The mining company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.79. The company earned $174.20 million during the quarter, compared to analysts’ expectations of $171.57 million. Cloud Peak Energy had a negative net margin of 16.17% and a positive return on equity of 3.70%. Cloud Peak Energy’s quarterly revenue was down 28.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.87) earnings per share. Equities research analysts predict that Cloud Peak Energy Inc. will post ($0.52) earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in shares of Cloud Peak Energy by 64.2% in the first quarter. Acadian Asset Management LLC now owns 635,209 shares of the mining company’s stock worth $1,237,000 after buying an additional 248,285 shares during the last quarter. Menta Capital LLC boosted its stake in shares of Cloud Peak Energy by 5.4% in the first quarter. Menta Capital LLC now owns 56,312 shares of the mining company’s stock worth $110,000 after buying an additional 2,898 shares during the last quarter. Spark Investment Management LLC acquired a new stake in shares of Cloud Peak Energy during the first quarter worth about $2,147,000. Renaissance Technologies LLC acquired a new stake in shares of Cloud Peak Energy during the first quarter worth about $947,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Cloud Peak Energy during the first quarter worth about $1,025,000. 77.13% of the stock is owned by institutional investors.
About Cloud Peak Energy
Cloud Peak Energy Inc is a producer of coal in the United States of America and the Powder River basin (PRB). The Company owns and operates three surface coal mines: the Antelope Mine, the Cordero Rojo Mine, and the Spring Creek Mine. The Company operates through two segments: Owned and Operated Mines segment, and Logistics and Related Activities.
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