Peabody Energy (BTU) Extends Run on 8th Day as Energy Demand Grows

We recently published 10 Stocks Crushing Wall Street, AI Stocks Dominate. Peabody Energy Corp. (NYSE:BTU) is one of the top performers on Tuesday.

Peabody Energy extended its winning streak to an 8th consecutive session on Wednesday, jumping 8.22 percent to finish at $25.81 apiece as investor confidence was fueled by expectations of stronger demand for energy until the end of the year.

During the session, Peabody Energy Corp. (NYSE:BTU) rallied alongside its energy counterparts, leading gains across the overall thermal coal sector, on expectations that energy demand will pick up in the cooler fourth quarter of the year amid increased use of heating appliances.

Further, Peabody Energy Corp. (NYSE:BTU) continues to benefit from the power-hungry data centers to support the needs of the artificial intelligence sector.

For the third quarter of the year, Peabody Energy Corp. (NYSE:BTU) targeted seaborne thermal volume to hit 3.9 million tons, including 2.7 million export tons.

Seaborne metallurgical, on the other hand, was projected at 2.2 million tons and is expected to achieve 70 to 75 percent of the premium hard coking coal price index.

While we acknowledge the risk and potential of BTU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BTU and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.