The New York Stock Exchange has suspended trading for Wyoming-based coal producer Cloud Peak Energy after several warnings.
According to a report from the Gillette News Record, the NYSE cited the stock’s low price levels as the reason for the suspension.
The coal producer’s stock opened at 16.2 centers per share Tuesday and closed at 15.565 cents per share.
The company had been warned beginning in December that it could become delisted after it’s stock fell below $1 per share.
Earlier this week, a financial report indicated that Wyoming’s Peabody Energy Corporation planned to reduce coal production by about 9 million metric tons in 2019. Peabody’s per-ton-margin for Powder River Basin Mines was projected to drop from $2.97 in 2017, to $1.70 in 2019.