Peabody Energy Corp (BTU US) $US34.24

Peabody (BTU) slipped 2.2% overnight in a weak session on Wall Street, supported by solid 4^th quarter earnings, which contained no nasty surprises:

• Revenue of $US1.02bn, -9% YoY, ahead of $US9874mn estimate.
• Adjusted Ebitda $118.1mn, -33% YoY, inline with estimates
• Cash and cash equivalents $575.3mn, -18% YoY, estimate $562.8mn.

Also, while BTU’s rare earths and critical minerals initiative is in early stages, the company is encouraged by the progress so far.

The volatility in both silver and Bitcoin over the last 24-hours is far from “normal” supporting our cautionary stance in the coming months.