Cheap Stocks to Buy Now: Alpha Natural Resources (ANR)
Things aren’t getting an easier for the coal sector. The Obama Administration and the EPA have pretty much signed the death certificate for the fossil fuel source. That development has caused many coal firms to fall under the cheap stocks banner.
One of the best cheap stocks could be Alpha Natural Resources (ANR).
Unlike many of its coal stock rivals, ANR isn’t really a producer of thermal- or electricity-generating coal. ANR stock’s bread-and-butter lies within metallurgical or steel making coal. In fact, ANR is the world’s third-largest supplier of the metallurgical coal.
While recent gluts and soft prices in steelmaking coal have impacted the bottom line of ANR stock, prices per ton did manage to rise 2% during the last quarter. More importantly, the rising global economy is set to increase steel production by 3.3%. Europe — ANR’s primary export destination — is set to reverse a steel making decline this year.
All in all, that should help boost profits for ANR stock, making it one of the best cheap stocks out there.