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Peabody sees improved Powder River revenues/ton next year

Sep. 18, 2014 3:39 PM ETPeabody Energy Corporation (BTU) StockBy: Carl Surran, SA News Editor5 Comments
  • Peabody Energy (NYSE:BTU -4.6%) bumps off big early losses after saying it expects higher revenues/ton from the Powder River Basin next year than 2014 realizations due to strong contracting strategies built on layering in sales at attractive price levels.
  • In an update on coal fundamentals and BTU's positioning, CEO Greg Boyce cites a fundamental mismatch in early reporting regarding China's new coal quality policies relative to the emerging view of its likely beneficial effects on Australian high-quality coal exports.
  • BTU shares had sunk to multi-year lows after Goldman Sachs downgraded shares to Sell.

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