BMO Capital downgraded Walter Energy (NYSE:WLT) from Outperform to Market Perform a week ago. The stock closed at $29.37, which is 7.2% lower than the price one week ago ($31.66).
Walter Energy (NYSE:WLT) has potential upside of 38.8% based on a current price of $28.86 and analysts' consensus price target of $40.07. The stock should find initial resistance at its 50-day moving average (MA) of $35.49 and further resistance at its 200-day MA of $36.49.
Over the past year, Walter Energy has traded in a range of $28.01 to $69.41 and is now at $28.86, 3% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 1.3%.
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.