Stock For Wyoming’s Largest Public Company Jumps 56% in One Month
Rumors of the coal industry's demise have been greatly exagerated, according to investors on Wall Street.
In spite of forcasted losses, stock prices for the Gillette-based coal company have risen 167% so far this year, with a whopping 56% increase in the past month.
Analysts credit their recent resurgence to a new financing agreement with creditors and shareholders.
While the news is welcome for both investors and Wyoming's energy industry, the company is projected to post larger losses in 2017.
At least for now, however, Wyoming's largest coal company has bought some time.