Jefferies & Company Inc. Maintains Buy Rating For James River Coal Co. (JRCC)

Analyst Michael Dudas at Jefferies & Company Inc. has released an update on James River Coal Co. (NASDAQ: JRCC). The company reported its first-quarter results on Friday.

James River reported first-quarter EPS of $0.84, which was well ahead of Jefferies’ estimate of $0.55 and consensus of $0.42. The results were driven by strong production, shipment and cost performance.

Jefferies & Company has raised its 2010 and 2011 EPS estimates for the company. 2010 EPS estimate has been raised from $2.40 to $2.70, while 2011 EPS estimate has been raised from $2.70 to $2.90. The price target for the company has maintained at $28.

Jefferies & Company Inc. has reiterated its Buy rating for James River Coal Co.