Arch Coal (NYSE:ACI), Patriot Coal (NYSE:PCX), Consol Energy Inc. (NYSE:CNX) Soar and Roar on Massey (NYSE:MEE) Deal

The $7.1 billion bid by Alpha Natural Resources Inc. (NYSE:ANR) for Massey Energy (NYSE:MEE) has brought the focus on the ongoing value and importance of the coal mining sector, and other than ANR, shares of companies like Arch Coal (NYSE:ACI), Patriot Coal (NYSE:PCX) and Consol Energy Inc. (NYSE:CNX) have soared as the market digests the news.

Alpha will be exporting a huge amount of metallurgical coal once the deal closes, which enjoys higher prices and margins, and provides product for the steel industry.

Consol Energy closed Monday at $49.70, gaining $1.77, or 3.69 percent. Patriot Coal ended the session at $26.17, up 0.71, or 2.79 percent. Arch Coal closed at $34.25, up $1.03, or 3.10 percent.