December 21, 2018 Read More →

More troubles for Powder River Basin’s Cloud Peak Energy

S&P Global Market Intelligence ($):

Cloud Peak Energy Inc. will be removed from the S&P SmallCap 600 prior to the opening of trading on Jan. 3.

The pure-play Powder River Basin coal mining company is ranked near the bottom of the S&P Dow Jones Indices’ index and is no longer representative of the small-cap marketplace, S&P Global Inc. said in a news release Dec. 20. Cloud Peak’s stock price has been sliding throughout the year, closing at just 48 cents per share on Dec. 20.

In mid-November, the company announced it had engaged a financial adviser and legal counsel to commence a review of strategic alternatives, including a potential sale of the company. Cloud Peak is one of the few large, publicly held U.S. coal companies to avoid a bankruptcy reorganization in recent years, but has been challenged by low prices for the domestic thermal coal it mines and operational challenges at its operations.

More ($): Cloud Peak to be removed from S&P SmallCap 600 as coal company’s stock flounders

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