Jefferies trims PT on Australia's Coronado Global Resources; shares fall

Coronado Global Resources

15/05/2025 04:33

Updates shares

** Shares of Coronado Global Resources CRN.AX down 1.3% to A$0.1925

** Analysts at Jefferies cut the price target on the coal miner to A$0.20 from A$0.22, reiterate "hold" rating

** Brokerage flags liquidity as a core near-term issue for CRN

** Company had said in April it was pursuing initiatives to ensure adequate liquidity amid low met coal pricing

** On the same day, it reported a 16.2% sequential drop in sales volumes for the March quarter

** "Focus on Stanwell and state government rebate/royalty extensions, ABL (asset-based lending facility) restructuring, prepayments and internal cost-out will be key over the next 3-6 months ahead of production growth into 2026" - Jefferies

** Average analysts' rating on CRN is "hold" with median PT of A$0.23 - data compiled by LSEG

** Stock down 74.5% YTD, as of last close

(Reporting by Jasmeen Ara Shaikh & Sherin Sunny in Bengaluru)

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