Coronado Global revises guidance after revenue and price declines
Coronado Global Resources (ASX:CRN) reported $608m in group revenue for Q3 FY24, down 9.7% from the previous quarter.
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Coronado cuts full-year guidance
A significant drop in the price of shares in Coronado Global Resources (ASX:CRN) occurred on Thursday after the company announced it had reduced its full-year guidance due to issues at a key Queensland coking coal mine.
Read MoreCoronado’s tough half
Quarterly updates from the likes of Yancoal (ASX:YAL) and Whitehaven (ASX:WHC) have already given a big hint about the likely slide in June 30 earnings for the coal mining sector, but the interim results from US and Australian miner, Coronado (ASX:CRN), confirmed that the reporting season for this sector won’t be pleasant.
Read MorePavel Tyka’s bid for Coronado Global Resources falters
Billionaire Czech businessman Pavel Tykac's plan to buy a controlling stake in Australian-US coal miner Coronado Global Resources has collapsed. His family investment group, Seven Global Investments (SGI), failed to secure approval from the Foreign Investment Review Board (FIRB) for the deal.
Read MoreCzech group acquires majority stake in Coronado Global Resource
Australian-US coking coal miner and exporter, Coronado Global Resources (ASX:CRN), welcomes a new major shareholder as America's Energy and Minerals Group (EMG) sells its 51% stake to a Czech private equity group.
Read MorePeabody-Coronado Deal Goes the Way of the Dodo
Coronado and Peabody Energy – each of which owns coal mines in Australia and the US – have ended discussions that would have created a company worth about $US6bn.
Read MoreCoronado and Peabody Talking Loud but Doing Nothing
Talk aplenty but no joy yesterday for the enthusiasts wanting to see a marriage between US/Australian coal companies Coronado Global Resources and Peabody Energy.
Read MoreStock Snippets: CRN, CSL
Word of possible takeover talks with Peabody Energy sent shares in coal miner Coronado charging Wednesday, while CSL also brought some good news to the market.
Read MoreCosts, Climate Change Dull Coronado’s Glow
Amid all the positivity of record earnings for Coronado Resources in the six months to June 30 were reminders about marketplace realities and how climate is now an increasing factor.
Read MoreCRN – Morgans rates the stock as Add
The broker lowers its target to $2.50 from $2.97 and the Add rating is maintained.
Read MoreCRN – Credit Suisse rates the stock as Outperform
The broker trims its target to $ 3.00 from $3.40. Outperform maintained.
Read MoreCRN – Morgans rates the stock as Add
The target price rises to $2.97 from $2.73 and the Add rating is unchanged.
Read MoreCRN – Credit Suisse rates the stock as Outperform
The broker trims the target to $2.00 from $2.20 and maintains an Outperform rating.
Read MoreCRN – Morgans rates the stock as Add
The broker lifts its target price to $1.63 from $1.21. Were debt funding terms not complicating the ability to pay dividends, Macquarie believes Coronado’s shares would be trading much higher. Add rating maintained.
Read MoreCRN – Credit Suisse rates the stock as Outperform
With a buoyant price in Australia and the US, the broker is positive about the stock and envisages upside with the share price trending towards the target of $1.60. Outperform maintained.
Read MoreCoronado Beset By Poor Prices, Higher Costs
The outlook for Coronado Global Resources has been stymied by a weak March quarter featuring poor price realisation and higher costs.
Read MoreCRN – Morgans rates the stock as Add
Coronado Global Resources raised US$180m in new equity, thereby reducing gearing to around 23% from 41%. Additionally, banks have extended the debt covenant waivers to September 2021 from February 2021.
Read MoreCRN – UBS rates the stock as Buy
June quarter production was ahead of expectations. Sales volumes were slightly below UBS forecasts because of weaker sales from the US, offset by higher sales from Curragh.
Read MoreCRN – Credit Suisse rates the stock as Outperform
The company has updated 2020 production guidance to 16.5-17mt. Sales volumes will be higher, given the draw on inventory in the US.
Read MorePressure Grows For Coal Producers
While oil was in the hot seat in March-April, coal is now in focus, reeling from a slump in demand as prices fall to multi-year lows. What is a reasonable short-term floor?
Read MoreCRN – Credit Suisse rates the stock as Outperform
Credit Suisse assesses the March quarter update highlights weak demand amid capacity closures and depressed pricing. The pain for Coronado Global is reflected in the elevated net debt as working capital movements go against the company.
Read MoreDifficult Coal Markets Prevail For Coronado
Some constraints on coal sales to China which weighed on Coronado Global in the December quarter appear to have been alleviated with the initial US/China trade deal.
Read MoreMaterial Matters: Copper, Iron Ore And Coal
A glance through the latest expert views and predictions about commodities. Large cap resources; copper; base metals; iron ore; and coal.
Read MoreCRN – Credit Suisse rates the stock as Outperform
The company has indicated 2019 operating earnings (EBITDA) will now be below the guidance range of US$687-737m. Softer metallurgical coal prices in the fourth quarter are being blamed along with a -3% reduction in saleable production.
Read MoreCRN – Credit Suisse rates the stock as Outperform
Credit Suisse has reviewed forecasts for bulk commodities, reducing near-term metallurgical coal price estimates by -27% for the fourth quarter of 2019 and by -15% for 2020.
Read MoreCRN – Morgans rates the stock as Add
Morgans is not surprised at the downgrades to the earnings outlook given the deterioration in the metallurgical coal market. The broker downgrades 2020-21 estimates for earnings per share by -8-22%.
Read MoreCoronado Caught Out By Softer Coal Price
More bad news from US – Australian listed coal miner, Coronado Global Resources which has emerged as one of the biggest IPO flops in the past year.
Read MoreCRN – Credit Suisse rates the stock as Outperform
Credit Suisse suspects the subdued reaction to the larger-than-expected distribution in the first half likely reflected broader sentiment and softening coal prices. The broker notes there is a commitment to release 11% of the stock from voluntary escrow six months early.
Read MoreCRN – Credit Suisse rates the stock as Outperform
Sales volumes were softer in the March quarter. Saleable production of 5mt was affected by rail availability in Queensland and poor mine conditions at Buchanan that affected yields.
Read MoreCRN – Morgans rates the stock as Add
Morgans is forecasting a 25%-plus yield over 13 months for metallurgical coal company Coronado Global Resources.
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