Peabody Energy Rocketed Today -- Is It a Buy?
Shares of coal-miner Peabody Energy (NYSE: BTU) are soaring today, up double digits by the mid-afternoon. The primary fuel source was its fourth-quarter results, which included its outlook for 2022.
What caught the market's attention was Peabody Energy's outlook. The coal-mining company expects volumes of thermal coal (used by electric utilities to produce power) to rise in 2022 as it increases production to meet customer demand. Meanwhile, it sees export volumes for met coal (used to make steel) rising substantially in 2022, driven by a full year of production from two mine expansions.
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Source Fool.com
