Peabody Energy Corporation (NYSE:BTU) announces new president and COO

1968
72878

Dallas, Texas 08/27/2013 (Financialstrend) – As per latest reports, Peabody Energy Corporation (NYSE:BTU) has nominated mining administrative Glenn Kellow as its new president and COO.

Company Chief Executive Gregory H. Boyce stated, “Kellow carries over a quarter century of notable experience in the worldwide resource business, where he has worked in multiple supervisory, operational and monetary positions in coal as well as other commodities.”

The company stated that Glenn will be accountable for all facets of the firm’s worldwide operations comprising security, fabrication, sales/marketing, ecological, productivity enhancement, engineering as well as projecting.

Glenn most recently functioned as president of the multinational Aluminum and Nickel biz for BHP Billiton Ltd.

His coal business knowledge consists of duties as president and chief operating officer of New Mexico Coal. He also worked as ex director of the World Coal Society and the National Mining Union.

In the month of July, the company announced that its 2nd quarter profit declined 56% as the coal firm’s income per ton slipped in both its United States and Australia procedures.

Peabody Energy scrip poised to go up – Barron’s

Peabody Energy’s chief executive officer Gregory Boyce thinks that coal rates are set to increase over the coming year and Barron’s believes “even a modest improvement would light a fire under [the firm’s] scrips.”

Coal giant Peabody Energy Corp is poised to derive benefit from coal rates, which should get a lift as supply and demand become more balanced, Barron’s said in its Aug. 26 edition.

Demand got uplifted as a few utilities have turned back to coal from natural gas, whilst manufacturers are slowly shutting down high-cost coalpits, meaning rates should go up, bettering Peabody’s proceeds over time.

One market expert quote by the financial newspaper stated that the scrip of the firm could climb to $30 to $35 over time for “patient” capitalists.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.