Coal miner Coronado Global falls after Barrenjoey's guidance downgrade

Coronado Global Resources

04/10/2023 24:29

** Analysts at Barrenjoey downgrade 2023 saleable volumes
guidance on Australia's Coronado Global  CRN.AX  to 16.2Mt,
reflecting the bottom range of guidance range
    ** CRN shares down 4.3% at A$1.7
    ** Raises 2023 unit costs guidance to $99/tonne
    ** The coal producer on Monday revised outlook for balance
of 2023 due to adverse operating conditions at the its Buchanan
mine, and unexpected downtime for repairs at its Curragh mining
complex
    ** Cuts FY23 EPS expectations on co by 26%
    ** Maintains PT at A$1.70
    ** Stock had fallen 10.8% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))