Why These Energy Stocks are Gaining This Week

3. Core Natural Resources, Inc. (NYSE:CNR) 

Share Price Gains Between Oct. 3 and Oct. 10: 12.45%

Core Natural Resources, Inc. (NYSE:CNR) is a world-class producer and exporter of high-quality, low-cost coals, including metallurgical and high calorific value thermal coals.

Core Natural Resources, Inc. (NYSE:CNR) shot up this week after Jefferies analyst Christopher LaFemina upgraded the stock from ‘Hold’ to ‘Buy’, while also increasing its price target from $90 to $125. According to the analyst, America’s thermal coal demand has increased by 15% over the last year following President Trump’s push to help revive the dying industry.

Meanwhile, analysts at UBS also hiked their price target for Core Natural Resources, Inc. (NYSE:CNR) from $89 to $105.5, while maintaining a ‘Buy’ rating on the stock.

The White House recently announced plans to open 13 million acres of federal lands for coal mining and provide $625 million to expand power generation from coal, in addition to instructing the Environmental Protection Agency to ease regulations on water and air pollution to help extend the lifetimes of coal power plants.

Core Natural Resources, Inc. (NYSE:CNR) also announced a change in leadership this week, appointing its board chair, Jimmy Brock, as the new Chief Executive Officer.