28/09/2023 09:15

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”.

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08/08/2023 16:48

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.

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11/07/2023 09:15

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.

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07/11/2022 16:43

Coronado Global Resources (CRN) $2.11

CRN -7.05%: shares in the coal miner were on the back foot today after announcing potential takeover talks with US giant Peabody had ended without a proposal. While there was no reason provided, Peabody has recently taken issue with Queensland’s royalty tax changes, while Coronado’s lack of thermal coal was also thought to be a sticking point. Coronado...

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13/10/2022 09:11

Coronado Global Resources (CRN) $2.09

CRN soared over +8% yesterday after confirming they were in talks with rival Peabody Energy around a potential merger of the 2 coal producers. These two companies have a combined market cap of around $10bn with CRN contributing ~$3.5bn, or 35% of the combined entity. The invasion of Ukraine by Russia has dramatically transformed the coal space, only 2-years ago...

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27/05/2022 09:22

Coronado Global Resources Inc (CRN) $2.20

Brisbane based coal miner CRN now has a market cap of $3.7bn after rallying 5-fold from its 2021 low, similar to NHC & WHC, again we like the business / stock but wouldn’t be cashing at current levels.

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16/03/2022 09:29

Emerging Companies Portfolio

The portfolio was up +3.02% in the week with cash sitting at a little over 13% after taking profits on Coronado Resources (CRN). The main contributors were Calix (CXL) +12.91% and Aussie Broadband (ABB) +11.41% more than offsetting weakness elsewhere. We have built a solid cash position in recent weeks looking for opportunities to deploy it.  

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09/03/2022 10:42

Emerging Companies Portfolio – Amendment

We are selling our 6% holding in Coronado Coal (CRN), locking in profits in the short term.

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09/03/2022 09:28

Emerging Companies Portfolio

The Emerging Companies portfolio was down -6.38% in the week with cash rising to over 7% after we sold Paladin (PDN). Small caps were under-pressure again, falling ~5%. Coronado (CRN) was the shining light in the portfolio, jumping 16%. We will be keeping a close eye on how energy & coal markets trade over the next few weeks and will likely take profits here shortly.

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09/02/2022 09:55

Emerging Companies Portfolio

The portfolio was down -0.18% in the week with cash sitting at a little over 1% as small caps continued to underperform large caps over the course of the week. Performance of the portfolio was weighed on by 10% falls from Adore Beauty (ABY), Dubber (DUB) & Zip Co (Z1P) while Coronado Resources  (CRN) and integrated marketing business  Ive Group (IGL)...

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