According to the Associated Press, Sterne Agee analyst Michael Dudas wrote in a note that the large Blacksville No 2 underground mine near the Pennsylvania-West Virginia border town of Wayne was one of Consol’s higher cost operations.

Dudas said Consol also held natural gas operations that were increasing in value and its solid balance sheet included both coal and gas properties that were low-cost to its bottom line.

As a result, Sterne Agee maintained its “buy” rating on Consol despite the incident as well as a $60 price target.

Consol crews have already started pumping more than 200,000 gallons of water into the mine to douse an underground fire that began sometime around 2pm on Tuesday afternoon.

Blacksville’s 121 day-shift workers were immediately evacuated and no injuries were reported.

No cause has for the fire been released and while officials say they have determined the location of the blaze that information has not been released.

Shares of Pennsylvania-based Consol closed Wednesday at $32.44, down 13c over the prior day.