BUZZ-Met coal producer Coronado hits over 3-year-low after weak quarterly production

Reuters
2025/01/24
BUZZ-Met coal producer Coronado hits over 3-year-low after weak quarterly production

** Coronado Global Resources CRN.AX fall 5.3% to A$0.6725, lowest since June 2021; 2nd-biggest loser on ASX200 .AXJO

** Met coal producer CRN on Thursday reported Q4 sales of 4.1 mt, missing Visible Alpha (VA) consensus of 4.3 mt; revenue also fell short

** Jefferies cuts PT to A$1.00 from A$1.40; keeps "buy"

** Says soft met coal market will temper near-term cashflow, expects production growth near end 2025

** Macquarie chops earnings estimate for FY24 by 66% and for FY25 by 26%

** Trading vol tops 4 mln shares, double the 30-day avg

** CRN has now slid about 12% YTD

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com;))

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