Cloud Peak Energy Inc. (CLD) Upgraded at Zacks Investment Research
Cloud Peak Energy Inc. (NYSE:CLD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $6.25 price objective on the mining company’s stock. Zacks Investment Research’s price target would suggest a potential upside of 12.21% from the stock’s previous close.
According to Zacks, “Cloud Peak Energy operates as a producer of low sulfur, high quality, sub-bituminous coal in the United States. It owns and operates three surface coal mines in the Powder River Basin named: Antelope, Cordero Rojo and the Spring Creek Mine. The Antelope Mine and Cordero Rojo Mine are located in Wyoming and the Spring Creek Mine is located near Decker, Montana. The company is headquartered in Gillette, Wyoming. “
Separately, FBR & Co lifted their target price on shares of Cloud Peak Energy from $1.25 to $1.75 and gave the company an “underperform” rating in a report on Friday, July 29th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $6.91.
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Cloud Peak Energy (NYSE:CLD) traded down 1.24% during midday trading on Tuesday, hitting $5.57. The company’s stock had a trading volume of 865,006 shares. The company’s 50 day moving average price is $4.34 and its 200 day moving average price is $2.86. The firm’s market cap is $328.66 million. Cloud Peak Energy has a 12 month low of $1.08 and a 12 month high of $5.85.
Cloud Peak Energy (NYSE:CLD) last released its earnings results on Thursday, July 28th. The mining company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.79. Cloud Peak Energy had a negative net margin of 16.17% and a positive return on equity of 3.70%. The firm earned $174.20 million during the quarter, compared to analyst estimates of $171.57 million. During the same period last year, the business earned ($0.87) earnings per share. The business’s revenue was down 28.6% on a year-over-year basis. Analysts expect that Cloud Peak Energy will post ($0.51) EPS for the current year.
Large investors have recently made changes to their positions in the stock. Menta Capital LLC increased 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 valued at $110,000 after buying an additional 2,898 shares during the period. Brandes Investment Partners LP bought a new stake in Cloud Peak Energy during the second quarter worth approximately $145,000. LMR Partners LLP bought a new stake in Cloud Peak Energy during the second quarter worth approximately $157,000. JPMorgan Chase & Co. bought a new stake in Cloud Peak Energy during the second quarter worth approximately $199,000. Finally, Cubist Systematic Strategies LLC increased its stake in Cloud Peak Energy by 17.6% in the second quarter. Cubist Systematic Strategies LLC now owns 99,374 shares of the mining company’s stock worth $205,000 after buying an additional 14,887 shares during the period. 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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