Over the period ended April 20, America’s big coal producers dominated the greatest-value-change list, with Peabody Energy leading the way by rising US$1.35, to US$48.
The St. Louis-based company celebrated a first-quarter profit of US$22.6 million, or 40 per share, as revenues jumped 16% to $788.6 million. A year earlier, the company posted a loss of US$11.2 million. For 2004, Peabody has raised its production forecast to 200-205 million tons.
Other coal miners that made large moves were: CONSOL Energy, up US82 to US$27.85; China’s Yanzhou Coal, off a painful US$6.95 to US$52.46; Massey Energy, up US74 to US$23.91; and Arch Coal, up US46 to US$31.90.
Aluminum giant Alcoa once again topped the most-active list, slipping 35, to US$33.08. The company and Aluminum Corp. of China (Chalco) have received approval from Chinese government regulators to proceed with a proposed 50-50 joint venture at Chalco’s Pingguo Aluminum facility in southern China’s Guangxi Zhang Autonomous Region. Pingguo’s current alumina refining capacity is 850,000 tonnes per year, while the aluminum smelter’s annual capacity is 135,000 tonnes.
Among the juniors, pink-sheet-listed Trend Mining was the highest percentage gainer, surging 36% to US34 on a volume of 485,000 shares. Based in Idaho and led by Chairman Michael Sharratt (a former vice-chairman and president of Stillwater Mining) and President and CEO Kurt Hoffman, Trend is exploring for platinum group elements on properties in Wyoming, Montana, Nevada and Saskatchewan.
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