The Bristol Virginia based Alpha Natural Resources, Inc (NYSE:ANR) stock moved down on Friday after the coal mining corporation reported plans to idle at least 4 mines and curtail operations at other plants due to weak demand for coal used in power production.
Shares of Alpha Natural moved down over 5% in afternoon trading as it hit a record low of $9.03 a share.
Alpha Natural Resources aims to idle four mines in Kentucky, close up four more mines being operated by contractors and curtail production at other plants. The company reported that almost 150 jobs would be removed.
Alpha Natural reported that the changes would lower thermal coal shipments by another 2 million tons in 2012 and 4 million tons in 2013.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Arch Coal Inc (NYSE:ACI) fell -0.33% to settle at $6.10, Patriot Coal Corporation (NYSE:PCX) moved down -9.73% to end at $1.67 while James River Coal Company (NASDAQ:JRCC) jumped +0.92% to finish on Friday at $2.19.
Alpha Natural Resources, Inc. (NYSE:ANR) last session volume of 14.07 million shares was surprisingly higher than its average volume of 13.79 million shares. The stock after opening at $9.47 hit high price of $9.47 and then closed at $9.32 by scoring -2.61%.
ANR generated revenue of 7.91 billion in the following twelve months and earned -$756.36 million. The Company showed a negative -9.56% in the net profit margin and as well as in its operating margin which remained –8.69%. Company’s annual sales growth for the past five years was +37.06%.
The ANR past twelve months price to sales ratio was 0.26 and price to cash ratio remained 3.49. As far as the returns are concern, the ANR return on equity was recorded as -14.92% and dropped -7.78% return on investment while its return on asset stayed at -7.04%.
The stock showed weekly downbeat performance of -10.64% which was maintained for the month at -33.09%. Likewise the negative performance for the quarter was recorded as -43.27% and for the year was -80.13% while the YTD performance remained at -54.38%.
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