new-recommended-broker-banner new-recommended-broker-banner
Practice Stock Trading Your Capital Is At Risk

Peabody Energy Stock Gains On New Labour Contract Agreement

Updated: 27 Sep 2021

Peabody Energy (NYSE: BTU) shares have edged higher premarket after it announced a collective bargaining agreement with the union representing its hourly workers at its Shoal Creek mine.

Peabody and the United Mine Workers of America (UMWA) announced a tentative agreement regarding the Shoal Creek mine in Alabama at the beginning of September. 

The mine has been closed since October 2020 after Peabody laid off around 400 workers and said it was temporarily stopping production due to a fall in coal demand. 

new-recommended-broker-banner

After the announcement of the tentative agreement earlier this month, UMWA International President Cecil E Roberts said that if the deal was ratified, it would “allow the Shoal Creek mine to be reopened very soon.” 

Commenting on today's announcement, Marc Hathhorn, President of Peabody's Australian and seaborne mining operations, said: “Peabody is pleased to have reached an agreement with our Shoal Creek mine employees that we believe is beneficial for all stakeholders, allowing the mine to operate safely and efficiently.”

“We appreciate the cooperation of the UMWA leadership and our Shoal Creek employees in reaching an agreement.”

Peabody's share price is currently trading at $13.37 premarket, up 3.08%.

Should You Invest in Peabody Shares?

One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It's a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .