Seeking Alpha

Barclays says it's channel checks over the past few weeks have led to the conclusion that the...

Barclays says it's channel checks over the past few weeks have led to the conclusion that the metallurgical coal markets are in worse condition than most investors expect. The firm says there's a real risk of yet another round of significant downward estimate revisions, and CONSOL Energy's (CNX +0.4%) closing of its Buchanan mine yesterday is yet another reminder of the severe pain facing the US coal producers. The firm recommends staying away from the coal producers until prices stabilize.
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