Coal Stocks Are Not Dead Yet: What Caused BTU to Surge 7% in a Day?

Peabody Energy (Peabody Energy Co: BTU) surged 7.47% to $36.04 on the New York Stock Exchange on the 13th. Its market capitalization swelled by roughly $3.53 billion (about KRW 4.7 trillion) in a single day, while trading volume topped 2.85 million shares. The renewed focus on coal demand, coupled with expectations of a policy-driven valuation reappraisal, is seen as having fueled this short-term supply-and-demand spike.

Recently, Peabody Energy announced a CEO succession plan, partially easing governance uncertainties. Since December, analysts have raised their price targets and maintained their investment ratings. With its mid- to long-term strategy—centered on leadership continuity and shareholder returns—now in place, Wall Street’s consensus remains “Hold,” but sentiment on near-term price momentum has turned more favorable.

Founded in 1883, Peabody Energy is one of the world’s largest coal producers, supplying both thermal coal for power generation and metallurgical coal for steelmaking from its U.S. and Australian mines. Even after emerging from Chapter 11 bankruptcy protection in 2016, the company has benefited from heightened energy-security concerns and rising electricity demand. In 2025, it has emerged as a leading beneficiary of what’s been dubbed the “coal revival,” and it continues to serve as a bellwether for the resilience of traditional energy amid the global transition to carbon neutrality.