Top Stocks Macarthur Coal (MCC)

Top Stocks – Macarthur Coal (MCC)

Macarthur Coal (MCC) is the world’s largest producer of low volatile pulverized injection coal used for steel making and is a supplier to steel producers.

MCC has boosted FY10 net profit guidance to $115 million – $125 million, from the previous $103 million – $113 million.

MCC based its forecast on better-than-expected sales volumes, which was due to loading shipments earlier than expected.

The profit update comes just a day after Centennial Coal (CEY) received a takeover offer, and may be a signal by MCC to Peabody Energy to come back with its own revised offer.

MCC share price has surged since middle of May, last closing at $12.75 a share.

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