Brean Murray Initiates Coverage on National Coal Corp (NCOC) with a Buy
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Brean Murray initiates coverage on National Coal Corp (Nasdaq: NCOC) with a Buy. Price target $12.
Brean analyst says, "The company, which mines and sells high quality bituminous thermal coal in Alabama and Tennessee, has excellent growth prospects, in our opinion. Some of these include a rapidly increasing production profile, a lowering of its overall cost structure, and the potential to write up significant reserves that could be anywhere from 3-6 times the current base of 31MT. Our belief that some of the unproven reserves may be higher-priced metallurgical coal and that coal producers will be hard pressed to keep pace with global demand reinforces our Buy recommendation."
National Coal Corp. mines, processes and sells bituminous steam coal from mines located in East Tennessee and North Alabama and, until March 31, 2008, in Southeast Kentucky.
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Comments
NCOC stock
This article says nothing about NCOC never turning a profit in their existence--a massive credit load--and increasing losses every single quarter. I want real info before I invest--no cheer leading.
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ncoc
mike on Nov 19, 2008 10:04 PMwhat has happen to the stock prices?