The Peabody Energy Corporation (NYSE:BTU) stock has made a significant run up the charts this morning and managed to deliver gains of 25% so far. That being said, there has been no news regarding the company that might have led to such a rally.
That last important development in relation to Peabody was on May 3 when the company announced the appointment of James Grech as the new Chief Executive Officer and President. He is going to take charge from June 1, 2021.
Grech is a highly experienced executive and has served in the coal and natural resources space for more than three decades. He was working as the Chief Executive Officer of Wolverine Fuels most recently. Towards the end of April, the company had also announced its financial results for the quarter ended on March 31, 2021. Peabody managed to generate revenues of $651.3 million in the quarter to go along with a net loss of $77.7 million.
BTU stock is up 25.13% at $8.14.
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