1.69 billion from what I gather, seem like a miss on the top line. But still not a bad quarter, I bet it soars today with cash on hand now at $900 million.
There's little expectation of a meaningful recovery in met coal. The bond deal they just did increased their interest expense meaningfully. They announced a restructuring, but there's still great risk of B/K here.
Yes I don't think in the next year, but that doesn't mean the stock won't fall back down to 5. Look at PCX as an example. They lost one key customer and were done in 4wks.
Yup just wanted to clarify that the BK risk isn't near term necessarily. It could bleed out though over the next 4-8 quarters it really depends on NG prices, regulation, and who is president.
and while not necessarily in that order (NG>Regulation>P... I feel that it is that order personally.
Nice quarter; adding more ANR and WLT here today in anticipation of further strength once China announces additional easing which is a near certainty when leadership change occurs.
met supply far outweighs demand currently adding is dangerous at this level for ANR, if it was back below 6$ it's a solid buy (for the speculative investor or someone looking to add a value risk play).
Lower ore makes the steel industry keep using its expanded capacity to try and eek out a profit even at lower steel prices, as they need to pay for that expanded capacity.
Met coal dynamics are not paired with ore in the short term, and one Aussie flood changes everything dramatically.
As far as I can tell from the conf call, 20 - 25% of met contracted, 50% CAPP contracted and production to decrease, 50% NAPP contracted, and as much as 75% of PRB contracted but they could increase PRB production if pricing continues to improve.
Management is totally focused on met as their ticket to any form of success.
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and while not necessarily in that order (NG>Regulation>P... I feel that it is that order personally.
Met coal dynamics are not paired with ore in the short term, and one Aussie flood changes everything dramatically.
ANR has become a pure met coal play, thermal is 100% contracted.
Also ANR said that they could ramp up production if needed to meet market demand should it increase.
As far as I can tell from the conf call, 20 - 25% of met contracted, 50% CAPP contracted and production to decrease, 50% NAPP contracted, and as much as 75% of PRB contracted but they could increase PRB production if pricing continues to improve.
Management is totally focused on met as their ticket to any form of success.