According to Hoover’s, Foundation Coal is one of the largest coal miners in the country. The company operates about a dozen surface and underground mines in Central Appalachia, Northern Appalachia, and the Powder River Basin. The firm produces and sells around 70 million tons of coal annually and has 1.5 billion tons of proved and probable coal reserves. Steam coal, produced for electric utilities, accounts for more than 90% of the company’s sales. Foundation Coal also produces metallurgical coal (for steel manufacturers).
In the Options Spotlight, I shine a light on what’s happening in the options world. In the case of Foundation Coal, call activity has been brisk on the shares as investors attempt to call a bottom to the security’s downtrend. Has this stock’s decline finally reached an end? For a closer look at Foundation Coal and its sentiment backdrop, please click on the www.schaeffersresearch.com link.
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