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    coal investing

    Investor Asks SunCoke to Sell if it Cannot Show Growth

    Investing News Network
    Feb. 23, 2015 09:18AM PST
    Industrial Metals

    Mining Weekly reported that hedge fund Jet Capital Investors LP, SunCokeEnergy Inc.’s (NYSE:SXC) third-largest shareholder, has asked SunCoke to either show a chart of growth or sell itself.

    Mining Weekly reported that hedge fund Jet Capital Investors LP, SunCokeEnergy Inc.’s (NYSE:SXC) third-largest shareholder, has asked SunCoke to either show a chart of growth or sell itself.

    As quoted in the market news:

    Shares of SunCoke Energy, whose coke is used in steel making, rose as much as 6.5% on Friday. The company was valued at $1.14-billion at Thursday’s closing price.

    Mathew Mark, a general partner at Jet Capital, stated:

    Execution on growth initiatives has been virtually non-existent with not a single acquisition completed in 2014.

    Given the failures of 2014, the market currently ascribes zero growth in perpetuity to SunCoke, and zero value to its advantaged GP/LP structure.

    Click here for the full Mining Weekly report

    coal investing
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