5 Best Coal Stocks To Invest In

4. Peabody Energy Corporation (NYSE:BTU)

Number of Hedge Fund Holders: 27

Peabody Energy Corporation (NYSE:BTU) is one of the world’s largest producers of coal. It markets the black metal to more than 25 countries around the world, and its clients include major electric power generation and steelmaking companies. At the start of 2022, the company owned interests in 17 coal mining operations located across the United States and Australia.

On May 2, Benchmark analyst Nathan Martin raised the firm’s price target on Peabody Energy Corporation (NYSE:BTU) to $29 from $19 and maintained a ‘Buy’ rating on the company shares. Martin notes that the demand for coal remains strong, which would enable the company to generate a greater cash flow, allowing it to accelerate its goal of eliminating debt. In the last year, shares of Peabody Energy Corporation (NYSE:BTU) have gained a whopping 236.28% as of June 8.

The first quarter database of Insider Monkey showed that 27 hedge funds were bullish on Peabody Energy Corporation (NYSE:BTU) shares, as compared to 28 hedge funds a quarter earlier. With 25.85 million shares priced at $634.3 million, Elliott Management was the top shareholder of Peabody Energy Corporation (NYSE:BTU) in the first quarter of 2022.