Thu, Mar. 5, 7:03 AM| Comment!
Thu, Mar. 5, 7:03 AM
Tue, Feb. 3, 10:46 AM
- Arch Coal (ACI +8.9%) opens sharply higher after reporting a smaller than expected Q4 loss as it cut costs to $16.46/ton from $18.10/ton in the prior-year quarter.
- ACI says it is suspending its annual dividend to preserve current levels of liquidity, although Cowen analysts say the suspension will save only ~$2M/year.
- ACI says it had available liquidity of ~$1.2B at year-end 2014.
- Expects costs in the Powder River Basin and Appalachian region, which account for most of its coal production, to fall in 2015, reflecting an improved rail performance, the impact of lower diesel prices and a full year of steady production at its low-cost Leer mine in West Virginia.
- ACI also says it expects capital spending of $145M-$160M in 2015, roughly flat vs. 2014's $147M in capex.
- Forecasts FY 2015 coal sales of 130M-143M tons after selling 134.4M tons in 2014 and 35.2M tons in Q4 (+9% Y/Y).
- Other coal names also are higher: ANR +7.8%, BTU +5.6%, CLD +2.3%, WLB +2.6%, WLT +9.4%, CNX +1.7%, RNO +4.3%.
Wed, Jan. 21, 3:21 PM
- Rhino Resource Partners (RNO +23%) is soaring after reporting late yesterday that its Pennyrile operations in Kentucky produced 111K tons while coal sales totaled 143K tons during Q4.
- RNO says federal authorities recently approved a deep cut mining plan for Pennyrile, which is expected to boost productivity and lower future mining costs it also dissolved a joint venture with with Patriot Coal and expects to soon complete the sale of the Rhino Eastern joint venture, adding ~$6M to annual cash flow this year.
- Also, Northern Appalachia operations produced 256K tons of steam coal during Q4, with coal sales totaling 257K tons and limestone sales of 179K tons; Castle Valley operations produced 287K tons and sold 301K tons in the quarter.
- Earlier: Rhino Resource Partners declares $0.05 distribution
Wed, Jan. 21, 12:45 PM
Tue, Jan. 20, 4:49 PM| Comment!
Oct. 30, 2014, 7:23 AM| Comment!
Oct. 21, 2014, 12:46 PM
Oct. 21, 2014, 9:14 AM
Oct. 20, 2014, 5:44 PM
- Rhino Resource Partners (NYSE:RNO) -36.9% AH after announcing a Q3 distribution of $0.05/unit, far lower than the previous quarter's distribution of $0.445/unit.
- RNO says the reduced distribution is the result of prolonged weakness in the coal markets, which has continued to adversely affect its cash flow.
- RNO says it will redouble its cost cutting efforts, including reducing overhead to reflect market realities and the company's smaller size.
Oct. 20, 2014, 5:38 PM
Jul. 31, 2014, 7:11 AM| 1 Comment
Jul. 29, 2014, 10:33 AM
- Arch Coal (ACI +3.5%) moves higher after its Q2 earnings loss came in better than expected as operating costs per ton fell 7%.
- Q2 sales fell 7% Y/Y to $713.8M, missing analyst consensus, but operating costs per ton fell to $20.55 from $21.19.
- ACI lowers its FY 2014 sales volume targets, including cutting its thermal sales volumes forecast to 124M-130M tons from 124M-132M tons to reflect the effects of transportation bottlenecks and the impact of a fall in steel production.
- Other coal names also are higher: ANR +4.3%, ARLP +2.4%, PVA +1.9%, WLB +1.9%, BTU +1.4%, RNO +0.9%, WLT +0.8%, KOL +0.4%.
Jul. 7, 2014, 12:44 PM
- Coal stocks suffer a beating after Deutsche Bank downgrades Peabody Energy (BTU -3.3%) to Hold from Buy with a $19 price target, down from $23, to reflect lower realized coal prices (particularly metallurgical coal) and anticipated ongoing cost pressures in foreseeable future.
- Consol Energy (CNX -1.7%) is the firm’s only Buy-rated coal stock because of the company’s “fast-growing natural gas business and solid financial position.”
- Although the Deutsche team says its focus is shifting to more company specific stories from an emphasis on sector performance, other coal companies are sharply lower: ACI -4.3%, ANR -4.8%, YZC -1.3%, CLD -2.4%, WLT -3.6%, RNO -1.5%, WLB -2%.
May. 16, 2014, 5:03 AM
- The White House is considering forcing power plants to cut carbon emissions by 25% over a 15-year period, Bloomberg reports.
- The problem is that owners can only cut so much of a facility's emissions by increasing efficiency, so a lot of the reduction could have to come by "going outside the fence," such as by deepening the use of renewable energy, improving grid efficiency and encouraging customers to use less electricity.
- Trying to compel operators to rely on such external measures could run afoul of what the government is allowed to do under the Clean Air Act.
- ETFs: KOL, XLU, IDU, VPU, RYU, PUI, UPW, FXU, SDP, PSCU, FUTY, UTLT
- Coal Tickers: PCXCQ, BTU, WLT, CNX, ACI, ANR, JRCC, YZC, ARLP, AHGP, NRP, PVR, PVG, PVA, OXF, CLD, WLB, RNO
- Utilities: ED, POM, PEG, FE, NST, UTL, ETR, EXC, D, NU, PCG, DUK
Feb. 27, 2014, 9:12 AM
- Gulfport Energy (GPOR) -1.5% premarket after Q4 earnings and revenues miss Wall Street expectations.
- GPOR's Q4 output totaled ~1.53M boe; estimates FY 2014 production of 50K-60K boe/day, with E&P capex activities estimated at $675M-$725M.
- Says it is evaluating strategic alternatives for its oilfield service business, and may pursue an IPO of the interests later this year.
- Agrees to acquire 8,200 net acres and ~1,000 boe/day of production in the eastern Ohio Utica Shale from Rhino Resources (RNO) for ~$185M.
RNO vs. ETF Alternatives
Rhino Resource Partners LP is a diversified energy limited partnership, engaged in coal and energy related assets and activities. It produces, processes & sells coal of various steam & metallurgical grades from multiple coal producing basins in the USA.
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