5 Best Coal Stocks To Buy Now

4. NACCO Industries, Inc. (NYSE:NC)

Price to Earnings Ratio (P/E) of November 17th, 2022: 5.04

NACCO Industries, Inc. (NYSE:NC) is an American company that was set up in 1913 and is headquartered in Cleveland, Ohio. The firm operates coal mines for power generation and its mines are located in Texas, Mississippi, North Dakota, and New Mexico. It also leases its mineral rights to other firms.

NACCO Industries, Inc. (NYSE:NC)’s third fiscal quarter saw the firm report a 54% operating income increase for its minerals management segment, driven by the prices of oil and gas this year. The company’s coal contracts are long term in nature, which insulates it against underlying industry variability. For its third quarter, NACCO Industries, Inc. (NYSE:NC)’s coal mining revenues also grew annually since its price agreement with a power company changed to reflect higher prices.

Insider Monkey’s Q3 2022 survey of 920 hedge funds outlined that four had invested in NACCO Industries, Inc. (NYSE:NC). The firm has a 5.04 P/E ratio.

NACCO Industries, Inc. (NYSE:NC)’s largest shareholder is Jim Simons’ Renaissance Technologies which owns 223,917 shares that are worth $10 million.

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