We recently published 10 Stocks Crushing Wall Street, AI Stocks Dominate. Peabody Energy Corp. 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. 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.
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Further, Peabody Energy Corp. 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. 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.
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This article is originally published at Insider Monkey.
