Coronado Reset Visible, but Outlook Hurt by Soft Coal Market
Dow Jones
Aug 12
0212 GMT - While coal miner Coronado Global Resources is showing operational improvement, sustained performance over 2H will be key to achieving production and cost targets for 2026, says Macquarie. Lower expectations for metallurgical coal prices, meanwhile, weigh on the outlook for Coronado's earnings and share-price performance, Macquarie says. The bank cuts its target price by 50% to A$0.20/share. It downgrades the stock to neutral from outperform "in the absence of a more attractive met-coal market backdrop." Shares are down 5.9% at A$0.16.
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