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Stock Investors Sell Off Shares of Walter Energy, Down 1.9%

Published on Mon, 01/14/2013 - 13:22
By Mallory Stone

Walter Energy (NYSE:WLT) is a company whose shares are active, trading 1.9% lower to $36.58. The Dow Jones Industrial Average is now trading fractionally higher to 13,494 and the S&P is trading 0.2% lower to 1,469.

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.

Walter Energy share prices have moved between a 52-week high of $76.95 and a 52-week low of $28.01 and are now trading 31% above that low price at $36.58 per share. Over the past week, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has advanced 0.5%.

There is potential upside of 15.5% for shares of Walter Energy based on a current price of $36.58 and an average consensus analyst price target of $42.25. The stock should find resistance at its 200-day moving average (MA) of $41.98, as well as support at its 50-day MA of $33.88.

By Mallory Stone
mstone@fnno.com

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