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Watch for Continued Losses in Shares of Walter Energy (WLT)

Published on Tue, 03/19/2013 - 14:23
By Mallory Stone

Walter Energy (NYSE:WLT) traded today at a new 52-week low of $27.88. Approximately 2.9 million shares have changed hands today, as compared to an average 30-day volume of 2.9 million shares.

Walter Energy (NYSE:WLT) has potential upside of 43.0% based on a current price of $28.02 and analysts' consensus price target of $40.07. The stock should run into initial resistance at its 50-day moving average (MA) of $35.33 and subsequent resistance at its 200-day MA of $36.38.

Walter Energy share prices have moved between a 52-week high of $69.41 and the current low of $27.88 and are currently at $28.02 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.2%.

Walter Energy, Inc. mines coal. The Company produces metallurgical and steam and industrial coal,, manufactures blast furnace, foundry, industrial and buckwheat coke, and produces light oil, coal tar, and ammonium sulfate. Walter Energy also degasifies coalbeds and sells the gas to a utility.

By Mallory Stone
mstone@fnno.com

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