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Wed, Oct. 8, 12:24 PM
- Morgan Stanley analysts are the latest to dump on coal stocks (NYSEARCA:KOL), as it lowers its price forecast for hard coking coal to $125/ton next year and says 2015 appears likely to bring a more gradual price recovery than previously expected.
- The firm downgrades Walter Energy (WLT -10.3%) to Equal Weight from Overweight with a $4 price target, down from $16, noting that WLT likely has sufficient liquidity through 2015 but citing the uncertain timing and magnitude of a price recovery as leaving an insufficient margin of safety.
- Peabody Energy (BTU -1.2%) is the firm's preferred play in coal because it is less liquidity constrained than other coal producers; BTU "offers multiple ways to win, with diversified met, domestic thermal and seaborne thermal exposure."
- Also: ACI -6.4%, CLF -5.6%, CLD -5.2%, ANR -3.4%, OXF -2.3%.
Thu, Sep. 18, 10:21 AM| 8 Comments
Mon, Jul. 21, 3:09 PM
- Oxford Resource Partners (OXF +27.4%) soars after winning a $19.5M settlement against Kentucky utility Big Rivers Electric in a dispute over a coal contract.
- Today's big gain in OXF is a rare move for a stock that has lost most of its value in the past two years because of mounting debt and doubts about future coal demand.
Tue, Apr. 8, 10:42 AM
- Consol Energy's (CNX +3.6%) upgraded coal outlook is lifting coal names higher across the board: ANR +9.2%, WLT +7.4%, ACI +5.6%, YZC +5.2%, BTU +3.8%, WLB +3.1%, OXF +3%, CLD +2%, KOL +1.9%.
- Stifel raises its CNX target price to $46 from $45, reflecting the strong market for northern Appalachian thermal coal, offsetting a weaker pricing and volume outlook for met coal (Briefing.com).
Fri, Mar. 7, 12:39 PM
- Alpha Natural Resources (ANR -9.4%) is hit hard after Goldman Sachs last night cut its rating on the shares to Sell and lowered its price estimates for coal; other sector names are following suit.
- Goldman also cut its price estimate for met coal this year to $141/metric ton from $150 and lowered projections for next year and 2016 following increased Australian output, an expected slowdown in the growth of Chinese imports, and “limited U.S. supply rationalization."
- The firm maintains a Neutral rating on Walter Energy (WLT -5.6%) but cuts its price target to $10 from $12.
- Also: BTU -4.2%, ACI -4%, CNX -1.5%, OXF -1.6%, JRCC -1.5%, CLD -0.7%, KOL -2.1%.
Mon, Feb. 3, 5:39 PM
- James River Coal (JRCC) -6.7% AH after plunging nearly 20% in the final half-hour of regular trading on a Bloomberg report that it hired Perella Weinberg Partners to advise on the restructuring of its debt and restructuring advisers including Blackstone have been pitching creditors.
- JRCC, which has closed mines and hasn’t posted an annual net profit since 2010, is among U.S. producers hurt by a decline in coal prices and the natural gas boom; for metallurgical coal used in steelmaking, rising Australian output has helped create a global surplus.
- Other coal producers also fell sharply today: ANR -8.1%, WLT -7.1%, ACI -5.4%, OXF -3.1%, BTU -2.7%, RNO -1.4%, CNX -1.2%.
Aug. 22, 2013, 12:59 PM
- Peabody Energy (BTU +5.3%) and Consol (CNX +4.2%) help push the coal sector (KOL +4.5%) to the top of today's gainers, buoyed by signs of a manufacturing recovery in China.
- Other coal names: PCXCQ.OB +11.2%, YZC +7.7%, WLT +6.5%, ACI +6%, JRCC +5.6%, ANR +5.2%, CLD +3.9%, WLB +2.2%, NRP +1.6%, OXF +0.8%.
Jul. 31, 2013, 10:41 AM
- Oxford Resource Partners (OXF +3.2%) continues higher after yesterday's 21% rise stemming from a positive Seeking Alpha article by GuruFundPicks which says a recent debt refinancing leaves OXF free to execute on a turnaround plan.
- Operations are turning around, according to the article, and OXF should enjoy improved production at its Appalachian mines, which does not seem to have been modeled into analyst projections.
- As coal reaches a positive inflection point, shares could have 50-150% upside.
Jul. 30, 2013, 10:36 AM
- Idenix Pharmaceuticals (IDIX +7.4%) and Oxford Resource Partners (OXF +15.6%) are sharply higher in early trade after bullish SA Pro articles (embargoed until tomorrow morning)
- McDuck capital calls Idenix a potential multi-bagger recently made cheap by the market's falling out of love with Hepatitis C's most promising treatment
- Oxford Resources - virtually unknown and operating in the heavily out-of-favor coal industry - is a turnaround play also with multi-bagger potential, says GuruFundPicks
Jun. 25, 2013, 12:45 PM
Jun. 25, 2013, 9:55 AMOxford Resource Partners (OXF +35.7%) says it closed on $175M of new credit facilities to replace its previous term loan and revolving credit facility, extending its debt maturity profile and increasing availability. OXF says the refinancing "significantly enhances [its] financial flexibility and puts it in a stronger position to participate in a coal market rebound." | Comment!
Jun. 14, 2013, 1:34 PM
May. 30, 2013, 10:37 AM
Jan. 29, 2013, 12:45 PM
Jan. 29, 2013, 9:54 AMOxford Resource Partners (OXF -34.4%) will suspend cash distributions on its common and subordinated units for Q4, citing continued weakness in the coal markets and a need to further preserve liquidity. OXF says it continues to look for ways to enhance its liquidity, including the sale of excess Illinois Basin equipment, and is pursuing the refinancing of its credit facility. | 1 Comment
Jan. 29, 2013, 9:10 AM
OXF vs. ETF Alternatives
Oxford Resource Partners LP is a low-cost producer of high value thermal coal and surface mined coal in Ohio. Its reserves and operations are located in Northern Appalachia and the Illinois Basin.
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