Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of coal miner James River Coal Co.
So what: The purchase, which includes coal marketing and trading business Logan & Kanawha Coal Co., will roughly double James River's size and greatly increase its exposure to metallurgical coal, used to produce steel. Ever-growing resource demand in countries like China and India have sent met coal prices surging over the past few months, fueling a recent spike in coal acquisitions as well.
Now what: Don't let today's 15% pop scare you away from James River. From Mr. Market's reaction, James River seems to be getting a great deal on International Resource at a time when big peers such as Arch Coal
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