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Is SunCoke Energy Setting Up for a Big Move? By StockNews

by Mike Robinson

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© Reuters Is SunCoke Energy Setting Up for a Big Move?

The chart for SunCoke Energy Inc. (SXC) shows a level of support. While the stock recently rallied from this support level, it is possible for it to reverse its course and drop through its support. Learn more about how you can profit from this trade. SunCoke Energy Inc., (SXC), is an independent producer in Americas of coke. They offer metallurgical, thermal and other coal. Coke, steel and coal are also offered by the company.

An increased demand worldwide for steel has helped the company. SXC’s core business is cokemaking. It involves heating coal to extremely high temperatures in order to create a solid, carbonaceous residue. The key to steelmaking is cokemaking, and prices are high because of limited supply.

A current ratio of 1.66 indicates that the company has sufficient liquidity to cover short-term obligations. Our POWR Ratings have given the firm a B Quality Grade. Its EBITDA declined 13% during the previous year but is projected to increase 20% in the coming year.

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