MGIC Investment Corp (NYSE:MTG) shares decline by 4.18%, Alpha Natural Resources, Inc (NYSE:ANR)

Posted by Steve Raasch May 30, 2013 0 Comment 1181 views


MGIC Investment Corp (NYSE:MTG): Wednesday’s trading session saw MGIC Investment Corp (NYSE:MTG) shares dipping by 4.18%. The opening price of $6.33, moved on to touch an intraday high of $6.47 before sliding down to close at $6.10 per share. Around 11.04 million shares were traded in the session on Wednesday. This number was less than the average volume of 12.42 million which was calculated over a 30-day period.

Investors who are considering purchasing  MGIC Investment Corp (NYSE:MTG) but are cautious about paying the going market price of $6.33/share, might profit from selling puts amongst any alternative strategies that are at their disposal. The January 2015 put is a particularly interesting one, at the $3.50 strike. At the time of writing, it had a bid of 60 cents. Collecting that bid as the MTG premium is indicative of a 17.1% return against a $3.50 commitment. This translates to an annualized rate of return of 10.5%. MGIC Investment Corp (NYSE:MTG) is a holding company. Via its wholly-owned subsidiaries it is a private mortgage insurer in the U.S.

Alpha Natural Resources, Inc (NYSE:ANR): Wednesday’s trading session saw Alpha Natural Resources, Inc (NYSE:ANR) shares dipping by 2.98%. The opening price of $7.01, moved on to touch an intraday high of $7.14 before sliding down to close at $6.81 per share. Around 11.90 million shares were traded in the session on Wednesday. This number was less than the average volume of 13.19 million which was calculated over a 30-day period.

Alpha Natural Resources, Inc (NYSE:ANR) is a company that supplies and exports metallurgical coals. These are used in the steel-making industry. The company also supplies thermal coal to manufacturing industries and electric utilities. In addition to this, ANR also exports thermal coal. As of 31 December 2012, ANR operated 107 mines and 26 coal-preparation plants located in Northern as well as in Central Appalachia. Some of its plants are also in the Powder River Basin. It operates in two segments: Western coals Operations and Eastern Coal Operations. Western Coal Operations is made up of 2 Powder River Basin mines situated in Wyoming. The Eastern Coal Operations is made up of the mines that are situated in Northern as well as in Central Appalachia.


About Steve Raasch

Steve Raasch is a breaking news reporter for GDP insider. During his nearly two decades of editorial experience, Steve has covered a variety of topics including small business, health, personal finance, advertising, workplace issues and consumer behavior. Steve is very passionate about his work. Steve earned a master of arts degree in international relations from the Johns Hopkins University School of Advanced International Studies in Washington.

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