The war in Ukraine has made the energy sector hot. Nowhere is it hotter than in stocks previously left for dead like coal producer Peabody Energy’s (NYSE:BTU) stock.
Peabody was a $1/share stock in November. It opened for trade March 22 at about $24/share. That’s a market capitalization of $3.2 billion.
Earnings are helping drive the stock. Peabody earned $360 million, $3.22 per share, during 2021, on revenue of $3.3 billion. But Peabody is not a growth stock. The company raised slightly less coal in 2021 than in 2020, when it posted a $1.8 billion loss.
Coal, the most stable business around in your grandfather’s time, is now as much a meme as Gamestop (NYSE:GME).
Find out more about BTU stock here.
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