Coal stocks are in the green on Wednesday after Consol Energy (NYSE:CNX) reported better than expected coal production in the first quarter and raised its annual coal target. Shares of the Pittsburgh, Pennsylvania based company jumped 3.5% to $50.62 during early trading.
JP Morgan (NYSE:JPM) recently raised its price target for a number of coal producers, such as, Arch Coal (ACI), International Coal Group (ICO), Peabody Energy (NYSE:BTU) and Consol, citing a rise in coal prices in the past year with the help of the global economic recovery.
Arch Coal, International Coal Group, Peabody and Consol are holdings of the Market Vectors Coal ETF (AMEX:KOL), which is up 1.37% to $65.22 during the morning session. Other main components of the Fund include Joy Global (JOYG), Bucyrus International (BUCY) and Walter Energy (NYSE:WLT).
For a complete list of holdings, visit the KOL Holdings page on ETFChannel.com
The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors — anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors, commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow the performance trail wherever it leads us.
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