More than 38% of the world’s electricity still comes from coal. T the large coal-producing states of West Virginia, Kentucky, and Pennsylvania. One of the world’s leading coal producers is Arch Resources Inc. 65% of all of the world’s coal is used in China. Coal is still a mainstay of electricity generation in Asia. In 2019, global demand for coal decreased by 1.8% and coal-generated power demand declined by 3%. Instead, renewable electricity generation has increased. There’s limited demand for coal and rising pressure on coal companies to cut emissions. As a result of the latest announcement of China limiting carbon emissions, several coal companies will be at risk. The major energy companies are starting to pay attention to ESG metrics. Arch Resources, Inc. stated that it also reduced its GHG emissions. Future prospects for the industry are very poor, and this has repercussions for coal-mining companies. The pandemic will have short-circuited global demand growth. For the next five years, global coal production is expected to grow at a CAGR of 2.3%.
Insider Monkey discusses the list of the 10 best coal stocks to buy now. NACCO Industries, Inc. is an Ohio-based coal company that ranks in the top 10. incorporated in mining and natural resources since it was founded in Cleveland in 1913, it is one of the best buy-low/sell-high candidates today. Ramaco Resources, Inc. is a Lexington, Kentucky-based corporation. It is one of the country’s leading metallurgical coal producers. The company mostly sells to smelting and coke plants in the region. BHP has been chosen by Insider Monkey as one of the best coal stocks to buy. It is run by three segments: Petroleum, Iron Ore, and Coal. Based in Tennessee, Alpha Mining Resources, Inc. mines, processes, and distributes met and thermal coal and sells it in Virginia and West Virginia. The company has a share price of $13.35, and its quarterly growth rate is 6.72%. It is currently on the 7th best-rated coal company shortlist. CONSOL Energy Inc. is one of the largest coal producers in Pennsylvania. The company operates a network of coal mines as well as its gas division. The company has proven and probable 657.9 million tons of coal resources at PAMC as of this year. Find more details in the article 10 Best Coal Stocks to Buy Now.
