Peabody Energy Corporation (BTUUQ) - OTCPK - Current
  • Dec. 28, 2015, 12:40 PM
    | Dec. 28, 2015, 12:40 PM | 4 Comments
  • Dec. 24, 2015, 12:31 PM
    | Dec. 24, 2015, 12:31 PM | 6 Comments
  • Dec. 22, 2015, 12:15 PM
    • Peabody Energy (BTU +16.4%) surges after disclosing that the Wyoming Department of Environmental Quality reaffirmed self-bonding eligibility for two of its mines in the state.
    • BTU says the state's review was related to permits under renewal for the North Antelope Rochelle and Rawhide surface mines.
    • The states administer the U.S. government's guidelines for self-bonding under the Surface Mining Control and Reclamation Act, and coal companies get a discount on insuring mine reclamation costs.
    | Dec. 22, 2015, 12:15 PM | 23 Comments
  • Dec. 18, 2015, 8:37 AM
    • Peabody Energy (NYSE:BTU+6.9% premarket on news it is in discussions to restructure some of its $6.3B in debt, including borrowing an additional $400M.
    • BTU discloses a potential plan to raise $150M in debt financing secured by certain of its Australian assets, and a new $250M secured letter of credit facility through subsidiaries that do not guarantee the company's debt.
    • BTU also says it is in ongoing discussions with holders of a $1.5B note due in 2018.
    | Dec. 18, 2015, 8:37 AM | 11 Comments
  • Dec. 14, 2015, 2:25 PM
    • Coal stocks sink (KOL -1.7%) as renewable energy stocks rally following this weekend's climate change accord reached in Paris, which could foreshadow tougher worldwide regulations on coal and oil companies.
    • The details of implementation will be left to individual nations, with a range of possible policy measures which could include tighter environmental regulations, taxes on carbon, and a shifting of government subsidies; analysts generally believe the net impact will be a further gradual reduction of global oil and coal demand growth over the decades to some, rather than an immediate downward revision.
    • Among coal focused stocks: BTU -12.4%, CLD -10.8%, WLB -9.3%, CLF -5.2%, ARLP -4.4%, ACI +1.2%.
    | Dec. 14, 2015, 2:25 PM | 63 Comments
  • Dec. 8, 2015, 7:12 PM
    • The Obama administration is concerned that the self-bonding coal mine cleanup program could leave taxpayers with multibillion-dollar liabilities, a U.S. Interior Department official says.
    • Self-bond liabilities totaling ~$3.6B could fall to taxpayers and righting the program "is a huge priority," the official says, according to Reuters.
    • Alpha Natural Resources (OTCPK:ANRZQ) left behind more than $670M in self-bond liabilities when it filed for bankruptcy in August, and the government has not determined how best to protect taxpayers from the hit.
    • Relevant tickers: KOL, BTU, ACI, CLD, WLB, CNX
    | Dec. 8, 2015, 7:12 PM | 33 Comments
  • Dec. 8, 2015, 3:47 PM
    • Bankruptcy risk is rising for Arch Coal (ACI -0.8%) and Peabody Energy (BTU +1.8%) amid an "uninspiring" outlook for coal and gas in next year, according to J.P. Morgan analyst John Bridges.
    • ACI is in talks with creditors for a possible restructuring, as it highlighted in its Q3 earnings release, and has $90M in coupon payments due Dec. 15 which could trigger a Chapter 11 filing, Bridges says.
    • BTU bought some time with its recent $358M sale of three western bituminous mines, but the analyst still thinks BTU may need to restructure; the two upcoming triggers are the ~$70M coupon payment due in March and a state review of its qualifications to self bond its Wyoming AROs in Q2 2016.
    • Bridges thinks coal miners must cut more capacity, and expects action in early 2016 with more mine closure announcements.
    | Dec. 8, 2015, 3:47 PM | 20 Comments
  • Nov. 23, 2015, 3:57 PM
    • Peabody Energy (BTU +3.6%) has given up much of its early 15% gain but is still higher following Friday's news that it is selling its New Mexico and Colorado coal assets for $358M.
    • J.P. Morgan analysts said earlier that the cash from the sale will be "helpful for maintaining liquidity and buying time," and anticipated the market's approval given the large short interest in many of the coal equities.
    • JPM estimates the three mines in the sale are worth $450M-$540M, which - combined with the $105M reduction in liabilities - puts the deal at the lower end of the firm's valuation range but the $300M reduction in reclamation exposure is helpful; also, the sustainability of production at the Twentymile mine is seen as questionable.
    | Nov. 23, 2015, 3:57 PM | 20 Comments
  • Nov. 23, 2015, 9:19 AM
    | Nov. 23, 2015, 9:19 AM
  • Nov. 20, 2015, 9:49 PM
    • Peabody Energy (NYSE:BTU) agrees to sell its New Mexico and Colorado coal assets to Bowie Resource Partners for $358M, plus ~$105M in related liabilities.
    • The assets include the El Segundo and Lee Ranch mines in New Mexico and the Twentymile Mine in Colorado, which have ~330M tons of combined coal reserves.
    • BTU says the deal will lower the amount of its self-bonding in place for reclamation obligations by more than $300M.
    | Nov. 20, 2015, 9:49 PM | 83 Comments
  • Nov. 20, 2015, 12:14 PM
    • Peabody Energy (BTU -4.8%) and Cloud Peak Energy (CLD -5.1%) are downgraded to Sell at UBS, which says U.S. coal prices remain "cornered by market and regulatory forces."
    • UBS says it sees the U.S. coal space remaining in a prolonged state of oversupply, with limited cost reduction potential left in the U.S. coal production base.
    • "Any recovery in gas prices may come too late for the highly levered U.S. coal players, and even those with healthier balance sheets are having damage progressively inflicted as higher price legacy multi-year contracts roll off, cash burn continues, and utilities reduce forward coal purchases," UBS says.
    • The firm maintains its Sell rating on Arch Coal (ACI -6.4%) and cuts its stock price target by 67% to $0.50; it also cuts targets for BTU by 82% to $6, CLD by 55% to $2.50, and Consol Energy (CNX -0.7%) by 10% to $9 with a Neutral rating.
    | Nov. 20, 2015, 12:14 PM | 26 Comments
  • Nov. 13, 2015, 10:47 AM
    • The New York attorney general's office, which told Peabody Energy (BTU -1.7%) this week to disclose more details about potential financial risks from climate change regulations, is now considering whether the tactic could be applied to companies beyond the energy sector, Reuters reports.
    • The AG investigation found that BTU repeatedly denied in public filings it could predict how potential climate change regulations would affect its business, even though its internal studies showed revenue could fall if coal were targeted in a carbon pollution crackdown.
    • The BTU settlement could prompt companies to re-examine what they define as material to shareholders, and could pressure a range of companies facing regulatory risks over policy issues from obesity to soaring drug prices, according to corporate governance experts.
    • At least one other case similar to BTU is in the works in New York, where the AG office reportedly opened an inquiry into whether Exxon Mobil misled shareholders about climate change risks.
    | Nov. 13, 2015, 10:47 AM | 15 Comments
  • Nov. 9, 2015, 10:17 AM
    • Peabody Energy (BTU +4.1%) reaches an agreement with the New York attorney general to more fully disclose to investors the financial risks it faces from regulations related to climate change and other environmental issues.
    • BTU’s concessions are in response to a two-year investigation by the AG that found the coal company had not been forthright with investors and regulators about threats to its business that were projected in private; the agreement does not include a monetary settlement.
    • The AG's office also is probing Exxon Mobil to determine whether the company lied to investors and the public about the effect of climate change on its profits (I, II).
    | Nov. 9, 2015, 10:17 AM | 6 Comments
  • Nov. 5, 2015, 3:33 PM
    • The New York attorney general's office has launched a sweeping investigation of Exxon Mobil (XOM -1.2%) to determine whether the company lied to the public about the risks of climate change or to investors about how those risks might hurt the oil business, NY Times reports.
    • AG Eric Schneiderman is said to have issued a subpoena last night to XOM demanding extensive financial records, emails and other documents.
    • XOM has denied allegations it has suppressed climate change research, and has said it had funded mainstream climate science since the 1970s.
    • The report also says coal producer Peabody Energy (BTU +6.2%) has been under investigation by the AG for two years over whether it properly disclosed financial risks related to climate change but has not resulted in any charges or other legal action.
    | Nov. 5, 2015, 3:33 PM | 80 Comments
  • Nov. 2, 2015, 4:47 PM
    • Consol Energy (NYSE:CNX), Peabody Energy (NYSE:BTU) and Arch Coal (NYSE:ACI) - down an average of 87% YTD and among the stock market's biggest losers - surged today, with CNX gaining nearly 18% in its best showing since 2008.
    • "Based on what we saw out of China with the weaker than expected manufacturing, you’d expect these companies to be getting hit harder," says Frank Ingarra, head trader at NorthCoast Asset Management, "but they’re just really oversold and getting a bounce up."
    • CNX sank 21% on Oct. 27 after reporting a wider than expected Q3 loss; the stock has been a weight on the portfolio of David Einhorn, who said last week the market that is “myopically focused” on the short-term prospects for Appalachian coal and natural gas was overlooking CNX’s potential.
    | Nov. 2, 2015, 4:47 PM | 7 Comments
  • Oct. 27, 2015, 5:23 PM
    • Peabody Energy (NYSE:BTU) finished today's trade with a 22% thrashing following another dismal quarter, an outlook from CEO Glenn Kellow that the company anticipates an even weaker coal market in the coming months, and the
      termination of Arch Coal's debt swap deal that could lead to the third major coal bankruptcy this year.
    • Citigroup bond analyst Richard Yu focuses on another problem - BTU's credit position - as he maintains a Marketweight issuer weighting on BTU and a Sell recommendation on second lien bonds; BTU "continues to do a good job on the cost front but lower prices remain a significant headwind," Yu says.
    • Plus, the general outlook for coal prices seems increasingly gloomy, as plunging natural gas prices (I, II) also weigh on Powder River Basin physical and financial contracts in the U.S. thermal coal market.
    | Oct. 27, 2015, 5:23 PM | 3 Comments
Company Description
Peabody Energy Corp. engages in the business of coal mining. It operates through the following segments: Powder River Basin Mining; Midwestern U.S. Mining; Western U.S. Mining; Australian Metallurgical Mining; Australian Thermal Mining; Trading and Brokerage; and Corporate and Other. The U.S.... More
Industry: Industrial Metals & Minerals
Country: United States