Seeking Alpha

PCX
Patriot Coal Corporation

5/26/2012, 5:42 PM ET
52wk high:
52wk low:
EPS:
PE:
Div Rate:
Yield:
Market Cap:
Volume:
PCX Market Currents more »
  • Wednesday 2:24 PM S&P cuts its credit rating on Patriot Coal (PCX +17.4%) for the second time in seven days and says it's on watch for yet another downgrade, citing doubts about PCX's ability to meet near-term obligations amid the company's "highly uncertain" proposed refinancing. The rating is cut two notches to CCC, which denotes highly speculative credit, from B-.
    1 Comment
    [Energy, On the Move]
  • Wednesday 10:42 AM In the wake of the PCX disaster, is there any bottom in sight for trashed coal stocks (KOL -1.8%)? Not yet, chartist Robert Sinn writes. "A stock like ANR at $11/share has almost turned into a call option on the Chinese economy and thermal coal prices," Sinn says, but "just like a call option, it will bleed time premium if China continues to deteriorate and thermal prices continue lower."
    Comment!
    [Energy, Quick Ideas, On the Move]
  • Wednesday 9:41 AM Patriot Coal (PCX +6.4%) shares enjoy a decent rebound after yesterday's disaster, and the company sends a letter to employees saying "operations are performing well." A bit late after yesterday's 28% drubbing, Deutsche Bank downgrades PCX to Hold from Buy, citing the uncertainty of the company's financing arrangements.
    1 Comment
    [Energy, Quick Ideas, On the Move]
  • Wednesday 9:05 AM Premarket gainers: RCON +70%. PCX +8%. ALU +5%. NBG +5%.
    Losers: DELL -14%. TSL -6%. BIG -6%.
    1 Comment
    [On the Move]
  • Tuesday 3:02 PM Patriot Coal's (PCX -29.4%) news release this afternoon offered no new information, 24/7's Paul Ausick writes. It doesn’t deny the company's need for restructuring help, and says nothing new about the $625M term loan it couldn't close last week. "Is the commitment letter signed, sealed, and delivered? Doesn’t sound like it."
    Comment!
    [Energy, On the Move]
  • Tuesday 2:30 PM Patriot Coal (PCX -27.1%) shares claw back only slightly as trading resumes after news of the company's new revolving credit facility. Other coal stocks (KOL -1.8%) still depressed: BTU -2.9%, WLT -4.6%, CNX -1.6%, ACI -4.9%, ANR -3.2%, JRCC -8%.
    1 Comment
    [Energy, On the Move]
  • Tuesday 2:13 PM Patriot Coal (PCX) says it has entered into a commitment letter for a new revolving credit facility and new term loan facility for a total of $625M. Shares had collapsed -34.5% before the announcement; trading now halted.
    Comment!
    [Breaking News, Energy, On the Move]
PCX in Focus more »
PCX Instablog posts more »
  • Making Of A Super Bull Cycle In Coal
    Thu, May 24 • Mark Anthony • 13 Comments
  • Monthly Natural Gas Consumptions Show No Sign Of Fuel Switch
    Sat, May 19 • Mark Anthony • 70 Comments
  • EIA Weekly Natural Gas Updates Indicate No Coal To Gas Switch
    Mon, May 14 • Mark Anthony • 36 Comments
  • A Mathematical Model Of Shale Gas Well Production Decline
    Thu, May 3 • Mark Anthony • 10 Comments
  • What I Learned From The Latest EIA Electricity Monthly
    Tue, May 1 • Mark Anthony • Comment!
Write a post on PCX
PCX StockTalks
PCX vs. ETF Alternatives
Company Description

We are a leading producer of thermal coal in the eastern United States (U.S.), with operations and coal reserves in Appalachia and the Illinois Basin. We are also a leading U.S. producer of metallurgical quality coal. Our principal business is the mining, preparation and sale of thermal coal,... More