Nomura Securities on Metals & Mining: Coal Export - Quick Look at ANR, CNX, ACI, PCX
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Price: $6.99 -3.05%
Rating Summary:
9 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
9 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade ANR Now!
Nomura Securities on Metals & Mining: Coal Export
Analyst, Curt Woodworth, said, "Coking Coal exports declined 14% in May on weaker demand from Europe and Asia. This was partially offset by increased buying interest from China, which grew by 33% or 270kt m/m. Despite coking coal benchmark rising to the spot market at ~$225/t on concerns over supply disruptions in Australia, exports volumes from the US have been weak as shipments to all regions have declined."
Individual Stocks:
Alpha (NYSE: ANR)(Buy, $20): Coking coal shipments have declined primarily on weakness to Asia. Thermal exports also pulled back on lower sales to Europe as prices fall.
Consol (NYSE: CNX)(Buy, $45): Standalone coking coal volumes improved by 47% during the month. May export is only 4% below March.
Arch (NYSE: ACI)(Reduce, $8): Total shipments declined by 25% MoM as no sales were made to Asia, but Europe sales have held up well.
Patriot (NYSE: PCX)(Reduce $5): Shipments doubled during the month as PCX sold 117kt out of Baltimore to China.
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Analyst, Curt Woodworth, said, "Coking Coal exports declined 14% in May on weaker demand from Europe and Asia. This was partially offset by increased buying interest from China, which grew by 33% or 270kt m/m. Despite coking coal benchmark rising to the spot market at ~$225/t on concerns over supply disruptions in Australia, exports volumes from the US have been weak as shipments to all regions have declined."
Individual Stocks:
Alpha (NYSE: ANR)(Buy, $20): Coking coal shipments have declined primarily on weakness to Asia. Thermal exports also pulled back on lower sales to Europe as prices fall.
Consol (NYSE: CNX)(Buy, $45): Standalone coking coal volumes improved by 47% during the month. May export is only 4% below March.
Arch (NYSE: ACI)(Reduce, $8): Total shipments declined by 25% MoM as no sales were made to Asia, but Europe sales have held up well.
Patriot (NYSE: PCX)(Reduce $5): Shipments doubled during the month as PCX sold 117kt out of Baltimore to China.
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