Jefferies cuts PT on Australia's Coronado Global Resources on cash constraint concerns

Coronado Global Resources

30/04/2025 20:51

** Analysts at Jefferies cut its price target on Coronado Global Resources CRN.AX to A$0.22 from A$0.30

** Co on Wednesday in its quarterly production results, said it will restructure its business to preserve cash given continued low met coal pricing

** "We remain focused on near-term liquidity constraints through ongoing coal market uncertainty" - brokerage

** Brokerage sees risk for co's Curragh Complex in maintaining production above 10.5Mtpa if cost reductions are too aggressive as CRN said it is targeting $100 million cost reductions over FY25

** The coal miner reported 3.4 metric tonne of sales volumes for the March-quarter, down 16.2% from previous quarter

** Brokerage says sales were a 10%-14% miss to expectations

** Stock last down 74.5% YTD

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))