Emerging Companies Portfolio – Amendments
We are selling two holdings in the Emerging Companies Portfolio today
Coronado Global Resources (CRN)
CRN $0.15
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Performance
Advanced charting functionality with the ability to amend timeframes, chart type & indicator selection, powered by TradingView.
Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 0.15
- Change
- ▼ -0.01 (-3.33)
- Bid / Ask
- 0.15 - 0.15
- Volume
- 874,974
- Turnover
- 128,252
- Open
- 0.15
- Day Range
- 0.14 - 0.15
- VWAP
- 0.15
- Prev Close
- 0.15
- Last Trade
- 10/11 4:16pm
Key information
Displays key information on the security, sourced from Morningstar.
- Sector
- Basic Materials
- Shares Issued
- 1,676,453,730
- NTA/Share
- 0.37
- Last Dividend
- —
- Dividend Ex Date
- —
- Dividend Pay Date
- —
Current (USD) · FY2025
Displays key financial data for the most recent fiscal year, in millions. Note - Per share data is in local currency terms irrespective of reporting currency, and may be different to the stated currency, sourced from Morningstar.
- Revenue
- 1,920.42
- EBITDA
- -158.27
- Profit
- -432.06
- Earnings Per Share (EPS)
- -0.03
- Dividend Per Share (DPS)
- 0.00
- Yield %
- 0.00
- Market Cap
- 243.09
- Price to Earnings Ratio (P/E)
- -2.48
Estimates (AUD)
Displays consensus analyst’s estimates for key measures for the next fiscal year, sourced from Morningstar.
No consensus estimates are available for this company.
Quantitative rating
Displays Morningstar’s Quantitative Equity Research Rating for the security: a star rating from 1 (overvalued) to 5 (undervalued) from the share price against a fair value estimated by a statistical model of Morningstar’s analyst ratings, with the model’s economic moat, financial health and fair value uncertainty, sourced from Morningstar.
Undervalued
- Economic Moat
- None
- Financial Health
- Weak
- Uncertainty
- High
Morningstar Quantitative Rating as of 6 NOV 2026.
Quantitative Equity Rating Methodology – view here
Fair value estimate
Displays Morningstar’s quantitative fair value estimate for the security against the current share price, with the band around it: the five-star price below which the model would rate the stock five stars and the one-star price above which it would rate it one star, sourced from Morningstar.
Five-star price 0.16 Fair value 0.25 One-star price 0.41
Morningstar Quantitative Rating as of 6 NOV 2026.
Quantitative valuation
Displays where the share price sits in Morningstar’s quantitative fair value band, from the five-star price (undervalued) to the one-star price (overvalued), with the fair value estimate, the price to fair value ratio, the model’s valuation label and its uncertainty rating, sourced from Morningstar.
Buy
Sell
- Fair Value
- 0.25
- Price / Fair Value
- 0.53
- Valuation
- Undervalued
- Uncertainty
- High
Morningstar Quantitative Rating as of 6 NOV 2026. The slider runs from the five-star price (0.16) to the one-star price (0.41).
Displays useful ratios for the security, NB the pricing date used, sourced from Morningstar.
| Ratios |
|---|
| Currency (Price/reporting): AUD/USD |
| Exchange Rate: 1.4506 |
Price, volume and trading statistics for the security, sourced from Morningstar.
| Price - closing or last bid | 0.14 |
| Price - 12 month high | 0.49 |
| Price - 12 month low | 0.13 |
| Pricing date | 5 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 4.09 |
| Market capitalization | 248.95 |
| 12 Month High price date | 27 JAN 2026 |
| 12 Month Low price date | 4 NOV 2026 |
| Volume - avg. trading volume for the last 3 months | 4.59 |
| Price - 1 Day % Change | -3.57% |
| Price - 13 week price percent change | -27.03% |
| Price - 26 week price percent change | -48.08% |
| Price - 5 Day % Change | -10.00% |
| Price - 52 week price percent change | -59.09% |
| Price - YTD price percent change | -57.81% |
| Price % Change Month To Date | -20.59% |
Earnings, dividends, cash flow and book value per share, sourced from Morningstar.
| EPS excluding extraordinary items - most recent fiscal year | -0.026 |
| EPS excluding extraordinary items - trailing 12 month | -0.040 |
| EPS Normalized - most recent fiscal year | -0.026 |
| Revenue/share - most recent fiscal year | 0.115 |
| Revenue/share - trailing 12 month | 0.118 |
| Book value per share - most recent fiscal year | 0.388 |
| Book value per share - most recent half-year | 0.136 |
| Book value (tangible) per share - most recent fiscal year | 0.369 |
| Book value (tangible) per share - most recent half-year | 0.118 |
| Cash per share - most recent fiscal year | 0.103 |
| Cash per share - most recent half-year | 0.058 |
| Cash Flow per share - most recent fiscal year | -0.005 |
| Cash Flow per share - trailing 12 month | -0.011 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.000 |
| EBITD per share - trailing 12 month | -0.021 |
| EPS Basic excluding extraordinary items - most recent fiscal year | -0.026 |
| EPS Basic excluding extraordinary items - trailing 12 month | -0.040 |
| EPS including extraordinary items - most recent fiscal year | -0.026 |
| EPS including extraordinary items - trailing 12 month | -0.040 |
| Free Cash Flow per share - trailing 12 month | -0.019 |
Valuation multiples such as P/E, price to sales, price to book and enterprise value ratios, sourced from Morningstar.
| P/E excluding extraordinary items, most recent fiscal year | — |
| P/E Normalized, most recent fiscal year | — |
| Price to sales - most recent fiscal year | 0.77 |
| Price to Tangible Book - most fiscal year | 0.79 |
| Price to Free Cash Flow per Share - most recent fiscal year | — |
| Price to Cash Flow per share - trailing 12 month | — |
| Price to Book - most recent fiscal year | 0.68 |
| P/E excluding extraordinary items high, trailing 12 months | — |
| P/E excluding extraordinary items low, trailing 12 months | — |
| Net Debt, LFI | 722.03 |
| Net Debt, LFY | 652.11 |
| Dividend Yield - 5 Year Average | 1.63% |
| Dividend Yield - indicated annual dividend divided by closing price | — |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 0.00% |
Cash flow, liquidity and leverage measures, sourced from Morningstar.
| Free Cash Flow - most recent fiscal year | -324.78 |
| LT debt/equity - most recent fiscal year | 121.24% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 126.99% |
| LT debt/equity - most recent half-year | 339.97% |
| Total debt/total equity - most recent half-year | 359.58% |
| Free Cash Flow - trailing 12 month | -323.79 |
| Payout ratio - trailing 12 month | — |
Key income statement lines for the most recent fiscal year, in millions, sourced from Morningstar.
| Revenue - most recent fiscal year | 1,920.42 |
| Revenue - trailing 12 month | 1,984.61 |
| EBITD - most recent fiscal year | -158.27 |
| EBITD - trailing 12 month | -353.63 |
| Earnings before taxes - most recent fiscal year | -444.42 |
| Earnings before taxes - trailing 12 month | -673.58 |
| Net Income available to common - most recent fiscal year | -432.06 |
| Net Income available to common - trailing 12 months | -677.67 |
| Earnings before taxes Normalized - most recent fiscal year | -453.23 |
| Net Income Available to Common, Normalized - most recent fiscal year | — |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | -0.03 |
Profitability margins for the most recent fiscal year, sourced from Morningstar.
| Net Profit Margin % - 1st historical fiscal year | -22.50% |
| Net Profit Margin % - trailing 12 month | -34.15% |
| Operating margin - 1st historical fiscal year | -19.05% |
| Operating margin - trailing 12 month | -19.26% |
| Pretax margin - trailing 12 month | -33.94% |
| Pretax margin - 1st historical fiscal year | -23.14% |
| Operating Margin - 5 year average | 4.34% |
| Pretax Margin - 5 year average | 3.01% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 1.83% |
| Free Operating Cash Flow/Revenue, TTM | -16.32% |
| Net Profit Margin - 5 year average | 1.88% |
Returns on average assets and equity for the fiscal year, the trailing 12 months and as 5 year averages, and net income and revenue per employee in whole currency, sourced from Morningstar.
| Return on average assets - most recent fiscal year | -16.79% |
| Return on average assets - trailing 12 month | -26.97% |
| Return on average equity - most recent fiscal year | -49.39% |
| Return on average equity - trailing 12 month | -114.25% |
| Return on average assets - 5 year average | 2.76% |
| Return on average equity - 5 year average | 1.33% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
Growth in revenue, earnings, dividends and book value over recent periods, sourced from Morningstar.
| Revenue growth rate, 5 year | 6.17% |
| EPS growth rate, 5 year | — |
| Growth rate% - dividend, 3 year | -68.40% |
| Revenue/share (5 yr growth) | -36.89% |
| Growth rate% - Revenue, 3 year | -18.35% |
| Growth rate% - EPS, 3 year | — |
| Book value per share growth rate, 5 year | -7.03% |
| Capital Spending growth rate, 5 year | 15.74% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | — |
Displays analyst’s forecasts for key measures. The estimates can be expanded to see the spread of the calls. Full lines = reported, and dotted lines are forward estimates. Click a measure to add or remove it from the chart, sourced from Morningstar.
Financial forecast (AUD, millions except per share)
No consensus estimates are available for this company.
Financial metrics can be plotted on the graph to see trends. Multiple metrics from multiple statements can be plotted against each other, sourced from Morningstar.
Financials (USD, millions)
| Period end: | DEC 21 | DEC 22 | DEC 23 | DEC 24 | DEC 25 |
| Fiscal year: | 2021 | 2022 | 2023 | 2024 | 2025 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Opinion
Coronado Global Resources (CRN) 98.5c
CRN -6.64% disappointed the market today on patchy quarterly results. The business has stumbled operationally and also mentioned a short term dip in steel demand which weighed on metallurgical coal prices during the period.
Coronado Global Resources Inc (CRN) $1.29
Coal producer CRN reported earlier this month, although it was largely pre-released, with a couple of takeouts: Earnings before interest tax depreciation and amortisation (EBITDA) of US$135m with a US0.5c dividend. They removed “inorganic growth as part of their capital management plans”, i.e. they’re not planning on making acquisitions.
Coronado Global Resources (CRN) $1.27
CRN -0.78%: The Coal producer had pre-released a lot of today’s 1H24 , so not a lot of new news, with earnings before interest tax depreciation and amortisation (EBITDA) of US$135m with a US 0.5/sh dividend – both inline with expectations. Interestingly, they removed what they term inorganic growth as part of their capital management plans, i.e. they’re not planning on making acquisitions, with the focus on balance sheet and delivery of its current growth pipeline.
Emerging Companies Portfolio – Amendments
We are making several changes to the Emerging Companies Portfolio today, repositioning towards stocks we believe offer a better mix of quality and leverage to the themes we remain confident in
Coronado Global Resources Inc (CRN) $1.29
CRN disappointed the market in late April primarily due to a lower-than-expected average realised price for its coal. However, CRN is positioned for a better CY24 driven by higher volumes and lower costs at Curragh. Cash is key for CRN, and free cash flow yield is set to lift significantly in CY25.
Coronado Global Resources Inc (CRN) $1.195
Coal miner CRN has fallen 32% so far this year as the stock underperforms in a relatively tough space year-to-date. In late April, CRN reported March Quarter production that was broadly in line with expectations but realised prices were weaker
Coronado Global Resources (CRN) $1.92
Coal miner CRN tested 7-month highs yesterday following the news on Tuesday that private equity firm Energy and Minerals Group (EMG) sold its 51% stake to Czech-based Sev.en Global Investments, which is looking to expand its Australian footprint towards our “unloved assets”.
Coronado Global Resources (CRN) $1.455
CRN -11.55%: the US & Australian coal miner was out with first-half numbers today with a low-quality beat treated harshly by investors. They missed on Revenue ($US1.49b vs $US1.54b expected) and EBITDA ($US352m vs $US372m expected) though NPAT of $US199m was in line with expectations with the uplift coming from a lower tax rate.
Coronado Global Resources (CRN) $1.50
We’ve had questions on CRN over recent months but for subscribers that missed our thoughts, we see excellent medium-term value with $2.5bn CRN which is trading on an Est. 4.4x earnings for FY23. Following comments in Q2 MM believes the miner is looking for acquisitions with some of BHP’s coal assets likely to be under consideration.
Action
Updated
20/06/2025
10:28
CRN
Updated 20/06/2025 10:28
MM are selling CRN in the Emerging Companies Portfolio, taking a loss around 14.5c
Updated
29/10/2024
17:09
CRN
Updated 29/10/2024 17:09
MM remains long and bullish CRN
Updated
27/08/2024
17:51
CRN
Updated 27/08/2024 17:51
MM is bullish toward CRN
Updated
07/08/2024
09:58
CRN
Updated 07/08/2024 09:58
MM is long & bullish CRN
Updated
26/07/2024
15:21
CRN
Updated 26/07/2024 15:21
MM are buying CRN in the Emerging Companies Portfolio, allocating 3% around $1.31
Updated
02/07/2024
17:10
CRN
Updated 02/07/2024 17:10
MM is now bullish toward CRN
Updated
13/06/2024
15:46
CRN
Updated 13/06/2024 15:46
MM is neutral CRN
Updated
29/09/2023
09:32
CRN
Updated 29/09/2023 09:32
MM likes CRN and the coal sector into 2024
Updated
08/08/2023
17:18
CRN
Updated 08/08/2023 17:18
MM prefers WHC/NHC to CRN in the coal space
Updated
11/07/2023
17:24
CRN
Updated 11/07/2023 17:24
MM is bullish toward CRN around $1.50
Business Summary
Coronado Global Resources Inc is a producer, marketer, and exporter of a full range of metallurgical coals, an essential element in the production of steel. The Company has a portfolio of operating mines and development projects in Queensland, Australia and in the states of Pennsylvania, Virginia and West Virginia in the United States. It has two reportable segments being Australia and USA.
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