Alpha Natural Resources Inc. (NYSE:ANR) declared on Tuesday that it will lower almost 1,200 out of its labor force of 13,100 workers as a constituent of an attempt to secure $150 million and cut back its thermal-coal processes.
By start of the next year, the firm intends to concentrate on its metallurgical coal position in both local and worldwide markets, and create cost-efficient thermal-coal assets, according to the Alpha Natural Resources.
Beginning from Tuesday, 400 jobs would be hedged as Alpha Natural (ANR) shuts eight mines in Virginia, West Virginia and Pennsylvania.
Its competitors include Arch Coal Inc (NYSE:ACI) that slipped -1.18% to $7.52 with the total traded volume of 5.36 million shares and CONSOL Energy Inc. (NYSE:CNX) that dropped -0.96% to $31.88 with the total traded volume of 1.47 million shares.
Other Basic Materials stocks with bullish trend include Denison Mines Corp (USA) (NYSEAMEX:DNN) up +12.41% to $1.63, Vale SA (ADR) (NYSE:VALE) up +0.77% to $19.52 and Molycorp, Inc.(NYSE:MCP) up +3.50% to $13.90, whereas with bearish trend include Pacific Ethanol Inc (NASDAQ:PEIX) down -13.24% to $0.60, Chesapeake Energy Corporation (NYSE:CHK) down -0.40% to $20.09 and SandRidge Energy Inc.(NYSE:SD) down -1.45% to $7.47.
Alpha Natural Resources, Inc (NYSE:ANR) stock in current session held volume of 12.29 million shares as compare to its average volume of 21.83 million shares. The stock after opening at $8.11 hit high price of $8.25 and then trading at $7.92 by scoring -1.98%.
As the revenue measures ANR generated revenue of 8.16 billion in the following twelve months income of $-2937.27 million. The Company showed a negative -35.98% in the net profit margin and in subtraction to in its operating margin which remained -40.34%. Company’s annual sales growth for the past five year was +37.05%.
The stock showed weekly upbeat performance of +16.76% which was maintained for the month at +22.42%. Likewise the negative performance for the quarter was recorded as -4.27% and for the year was -72.86% while the YTD performance remained at -60.45%.
The ANR past twelve months price to sales ratio was +0.22 and price to cash ratio remained 5.04. As far as the returns are concern, the ANR return on equity was recorded as -43.57% and increased -21.27% returns on investment while its return on asset stayed at -18.71%.
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