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. Looking ahead, CRN is positioned for an improved back end to 2024 driven by higher volumes and lower costs at Curragh, but it needs to deliver to regain the market’s confidence.
- We can see CRN testing $1 through 2024; hence, we have no interest and prefer Whitehaven (WHC) and New Hope (NHC) for sector exposure, both of which have significantly outperformed in 2024.
MM is neutral CRN
Add To Hit List
