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Downgrade Alert for Peabody Energy (BTU)

By James Quinn

Peabody Energy (NYSE:BTU) was downgraded from Neutral to Sell at Goldman Sachs today. The stock closed yesterday at $14.19 on volume of 12.9 million shares, above average daily volume of 5.9 million.

In the past 52 weeks, shares of Peabody Energy have traded between a low of $13.80 and a high of $21.28 and closed yesterday at $14.19, which is 3% above that low price. The 200-day and 50-day moving averages have moved 0.34% lower and 0.74% lower over the past week, respectively.

Peabody Energy has overhead space with shares priced $14.19, or 27.5% below the average consensus analyst price target of $19.56. The stock should find initial resistance at its 50-day moving average (MA) of $15.49 and further resistance at its 200-day MA of $16.86.

Peabody Energy Corporation mines and markets predominantly low sulfur coal, primarily for use by electric utilities. The Company also trades coal and emission allowances. Peabody owns and operates mines in Arizona, Colorado, New Mexico and Wyoming, Illinois, Indiana, and Australia. The Company also a minority interest in a Venezuelan mine through a joint venture.

SmarTrend is monitoring the recent change of momentum in Peabody Energy. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Peabody Energy in search of a potential trend change.

Keywords: analyst upgrades/downgrades Peabody Energy

Ticker(s): BTU