5 Best Coal Mining Stocks To Buy Today

2. Peabody Energy Corporation (NYSE:BTU)

Number of Hedge Fund Holders: 40

Peabody Energy Corporation (NYSE:BTU) operates in the coal mining industry across the globe, including the United States, Japan, Taiwan, Australia, India, Brazil, Belgium, Chile, France, Indonesia, China, Vietnam, and South Korea. The company’s operations are divided into several segments, including Seaborne Thermal Mining, Seaborne Metallurgical Mining, Powder River Basin Mining, and Other U.S. Thermal Mining. Its main customers include electricity generators, industrial facilities, and steel manufacturers. Peabody Energy Corporation (NYSE:BTU) was established in 1883 and is headquartered in St. Louis, Missouri. 

On January 17, Lucas Pipes, an analyst at B. Riley, increased the firm’s target price on Peabody Energy Corporation (NYSE:BTU) from $37 to $39. The analyst maintained a Buy rating on the shares following an update to his metallurgical coal price estimates. Pipes continues to favor stocks with a “conservative” balance sheet and “strong” capital return policies to ensure long-term flexibility and options. 

According to Insider Monkey’s fourth quarter database, 40 hedge funds were long Peabody Energy Corporation (NYSE:BTU), compared to 38 funds in the prior quarter. Paul Singer’s Elliott Management is the largest stakeholder of the company, with 23 million shares worth $608.3 million.