Boston, MA 05\/01\/2014 (wallstreetpr) \u2013 \u00a0After a gloomy first quarter, the least Cloud Peak Energy Inc. (NYSE:CLD)<\/b> was expecting was a rating downgrade. But, it received one from an analyst at BMO capital. The downgrade was reflecting on its share prices on Wednesday, which ended nearly 4% below its previous close.<\/p>\n
Rating Downgrade By BMO Capital<\/b><\/p>\n
Reportedly, the research firm has downgraded Cloud Peak Energy Inc. (NYSE:CLD) from ‘outperform’ to ‘market perform’. The firm based its rating downgrade on valuations as the company has been adversely affected by the rough weather during the beginning of the year. BMO Capital maintains a price target of $21 for the company.<\/p>\n
Rough weather And Rail Issues<\/b><\/p>\n
Cloud Peak Energy Inc. (NYSE:CLD)’s first quarter did not start well as its efficiency remained impacted by severe winter, rail service disruptions and freezing of the Great Lakes. In the reported quarter, the company’s revenue came in at $319.06 million, which missed the analyst estimates by $18.53 million. At the same time, its adjusted net loss stood at $0.11 per share versus the market consensus of ($0.03). However, the company appears encouraged from its effort to limit costs.<\/p>\n
The company’s President and CEO, Colin Marshall said during the conference that its mines are well positioned at present and would be able to reduce cost per ton, in particularly, during the second half of the year. Marshall added that the company will continue to run the mines at a constant pace in order to maximize efficiency and to keep the trend of reducing operating and capital costs.<\/p>\n
About Cloud Peak Energy<\/b><\/p>\n
Cloud Peak Energy Inc. is considered among the largest coal producers in the United States and is the only \u201cpure-play Powder River Basin (PRB)\u201d coal firm. Additionally, the company is renowned s the safest coal miner across the nation and is engaged in mining of low sulphur, subbituminous coal that facilitates logistics supply services. Cloud Peak Energy Inc. (NYSE:CLD) is headquartered in Wyoming.<\/p>\n","protected":false},"excerpt":{"rendered":"
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