Market Insider

Peabody Energy shares rocket after Trump wins presidency

A dump truck moves coal at the Peabody Energy Somerville Central mine in Oakland City, Indiana.
Luke Sharrett | Bloomberg | Getty Images

Shares of major coal producer Peabody Energy surged more than 49 percent on Wednesday after Donald Trump won a decisive victory.

On the campaign trail, the president-elect promised to bring back mining jobs and lamented U.S. regulations on clean coal. Reuters reported that coal companies donated about $223,000 in support of Trump.

During a debate, the New York businessman criticized his opponent Hillary Clinton and alleged that her plans to shift to clean, renewable energy would put miners out of business.

With Wednesday's gains, the stock is up 66 percent so far this year, but is still down 15 percent over the past year.