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Los Angelas, CA -- (SBWIRE) -- 01/22/2014 -- Hotpennystocknews.com issues special report on - Walter Energy Inc (WLT)
Walter Energy (WLT) is a leading producer and exporter of metallurgical coal for the global steel industry with strategic access to high-growth steel markets in Asia, South America and Europe. The company also produces thermal coal, anthracite, metallurgical coke and coal bed methane gas. We trace our roots back to 1946 when Jim Walter began a homebuilding business in Tampa, Florida. Although initially focused on homebuilding, the company Mr. Walter founded later became Jim Walter Corporation and branched out into different businesses, including the 1972 development of four underground coal mines in the Blue Creek coal seam near Brookwood, Alabama. Today, Walter Energy has 15 mines in three countries and produced 11.7 million metric tons of coal with sales of $2.4 billion in 2012.
Walter Industries changed its name to Walter Energy and became a primarily “pure play” metallurgical coal company. In 2010 the Company’s headquarters moved from Tampa, Florida to Birmingham, Alabama. In April 2011, Walter Energy completed the acquisition of Western Coal Corp. in Northeast British Columbia for $3.3 billion and obtained a listing on the Toronto Stock Exchange. Included in the purchase were coal mines in West Virginia and Wales, UK.
WLT traded lower in sympathy with Cliffs Natural Resources which came in under pressure after analysts at Goldman Sachs predicted that copper and iron-ore prices would fall dramatically in the coming years, and even though Walter Energy doesn’t have iron-ore exposure, the general picture for metallurgical coal demand could face the same challenges if steel prices stay low.
WLT is -1.11 - -7.95% from the previous close of $13.96. It traded between $12.82 - 13.88 with total traded volume of 9904600 shares. Keep a close eye on WLT, as the stock has been showing unusual moves over the past weeks. At Current market price, WLT has recovered +30.06% from its 52-week Low of 9.88 and has Pulled back -68.35% from its 52-week high of 40.60.
Is Investor Showing Any Interest On WLT? Find Out Here.
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