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

Coronado Global Resources

24/01/2025 03:40

** 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;))