Grande Cache Coal Higher on M&A Speculation; Gains Tempered by CIBC Price Target Cut

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Grande Cache Coal Corp (GCE.TO) is hanging onto a 7% advance today, supported by Arch Coal's ( ACI ) $3.4 billion cash deal for International Coal Group ( ICO ).

GCE.TO shares pushed as high as $8.88, up more than 10% as traders speculated which coal miner could go next in the current M&A boom for the sector. The enthusiasm faded somewhat as the session continued, with shares also likely feeling pressure from a reported trim in CIBC's price target for the stock to $10.00 a share, down from a previous $10.30 call.




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This article appears in: Investing , Commodities

Referenced Stocks: ACI , ICO

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