Investopedia: Can Alpha Natural Resources Find The Bottom?
It's been a pretty miserable summer for coal companies, as low natural
gas prices and sluggish steel production have eviscerated prices for
both thermal and metallurgical coal. As a debt-heavy company with major
exposure to the very much out-of-favor Appalachia region, Alpha Natural Resources (NYSE:ANR)
has seen its stock take an absolute pounding. Although valuation
suggests extreme pessimism, investors cannot afford not to consider the
risk that conditions could get even worse.