Massey raises coal price, stock soars

  •  | 
Print this page

Shares of Massey Energy Co. jumped 18 percent Friday after it announced higher than expected coal prices this year.

The Richmond-based company says it expects to sell coal for between $61 and $63 per ton in 2008. That’s well above the $54 to $56 range it originally expected.

The stock price closed Friday at $27.15, up $7.27 that day.

Massey CEO Don Blankenship is meeting with investors today at the Howard Weil Energy Conference in New Orleans to discuss its outlook and capital projects.

Reader Comments

comments powered by Disqus

showhide shortcuts