NEW YORK, NY / ACCESSWIRE / June 1, 2017 / Coal and Renewable Energy stocks fell Wednesday on news that President Trump may be close to pulling the United States from a global accord on fighting climate change. Coal companies, including Cloud Peak Energy Inc. and Peabody Energy Corp, had previously advised President Donald Trump's administration to stay with the Paris Climate Agreement, according to a Reuters' article citing executives and a U.S. official familiar with the discussions.

RDI Initiates Coverage on:

Peabody Energy Corp.
https://ub.rdinvesting.com/news/?ticker=BTU

Cliffs Natural Resources Inc.
https://ub.rdinvesting.com/news/?ticker=CLF

Peabody Energy's shares dropped 2.21 percent to close at $24.29 a share on Wednesday. The stock traded between $23.91 and $24.79 on volume of 463,884 shares traded. The company reported revenues were $1.33 billion for the first quarter of 2017, an increase of 29 percent when compared to the first quarter of 2016. Net income was $122.1 million for the first quarter of 2017, the highest in nearly 5 years. Shares of Peabody Energy have fallen approximately 21.65 percent year-to-date.

"Peabody's first quarter results were significantly improved over the prior year across the platform, reflecting sharply higher coal demand in the United States and expanded Australian margins for both thermal and metallurgical coal," said Peabody President and Chief Executive Officer Glenn Kellow.

Access RDI's Peabody Energy Research Report at:
https://ub.rdinvesting.com/news/?ticker=BTU

Cliffs Natural Resources' shares declined 5.08 percent to close at $5.89 a share on Wednesday. The stock traded between $5.61 and $6.10 on volume of 26.49 million shares traded. On May 16th, the company announced that it has begun production of the new Mustang superflux iron ore pellet at its United Taconite mine. Cliffs Natural Resources reported consolidated revenues of $462 million for the first quarter of 2017, an increase of 51 percent when compared to the same quarter a year ago. Cost of goods sold increased by 33 percent year-over-year to $366 million. The company recorded a net loss of $30 million for the quarter. Shares of Cliffs Natural Resources have fallen approximately 29.96 percent year-to-date.

Access RDI's Cliffs Natural Resources Research Report at:
https://ub.rdinvesting.com/news/?ticker=CLF

Our Actionable Research on Peabody Energy Corporation (NYSE: BTU) and Cliffs Natural Resources Inc. (NYSE: CLF) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com