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HCC

Warrior Met Coal

$26.71

-0.81 (-2.94%)

, TECK

Teck Resources

$19.61

-0.64 (-3.16%)

08:04
05/24/19
05/24
08:04
05/24/19
08:04

Warrior Met Coal price target raised to $38 from $33 at MKM Partners

MKM Partners analyst Daniel Scott raised his price target on Warrior Met Coal (HCC) to $38 and kept his Buy rating as part of his broader research note titled "Coking Coal Staying Strong." The analyst maintains his multi-quarter view that the market for coking coal is "resilient" and demand is experiencing "continued strength" amid slow supply response from producers in Australia, U.S., and Canada. Scott adds that the $200 per metric ton price level is close to becoming a "new normal", while noting that valuation on the coking coal stocks is still "well below mid-cycle ranges". As part of his research note, the analyst also raises his FY19 and FY20 revenue and EBITDA forecasts for Peabody Energy (BTU) and Teck Resources (TECK).

HCC

Warrior Met Coal

$26.71

-0.81 (-2.94%)

TECK

Teck Resources

$19.61

-0.64 (-3.16%)

BTU

Peabody Energy

$24.45

-0.855 (-3.38%)

  • 25

    Jul

HCC Warrior Met Coal
$26.71

-0.81 (-2.94%)

11/08/18
MKMP
11/08/18
UPGRADE
Target $37
MKMP
Buy
Warrior Met Coal upgraded to Buy from Neutral at MKM Partners
MKM Partners analyst Daniel Scott upgraded Warrior Met Coal to Buy from Neutral and raised his price target to $37 from $31 as part of his broader research note titled "Coking Coal Still on a Roll". The analyst notes that "under-investment by the industry during the down times and discipline since the recovery" have led to a coking coal price increase from below $80/MT four years ago to $180/MT now. Scott states that as the only pure play coking coal name in his coverage, Warrior Met Coal has the biggest impact from his increase in price assumptions. The analyst is also positive on its "attractive organic growth opportunities adjacent reserves in the Blue Creek seam in Alabama".
03/13/19
JEFF
03/13/19
INITIATION
Target $35
JEFF
Buy
Warrior Met Coal initiated with a Buy at Jefferies
Jefferies analyst Christopher LaFemina started Warrior Met Coal with a Buy rating and $35 price target. Warrior is a pure-play, U.S.-based met coal miner with a "clean balance sheet and flexible cost structure," LaFemina tells investors in a research note. He sees the company as well positioned to weather the "inevitable cyclical downturns and return surplus capital to investors during upturns."
03/31/19
DBAB
03/31/19
INITIATION
DBAB
Buy
Warrior Met Coal initiated with a Buy at Deutsche Bank
04/01/19
DBAB
04/01/19
INITIATION
Target $35
DBAB
Buy
Warrior Met Coal initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli initiated coverage of Warrior Met Coal with a Buy rating and $35 price target. While coal faces some headwinds from the negative sentiment, the main attraction towards the stock is cash flow as the company benefits from a "strong" balance sheet post the restructuring in the last downturn, Santarelli tells investors in a research note. He views Warrior Met Coal's capital management program as attractive.
TECK Teck Resources
$19.61

-0.64 (-3.16%)

01/16/19
CLKS
01/16/19
DOWNGRADE
CLKS
Neutral
Teck Resources downgraded to Neutral from Buy at Clarksons Platou
Clarksons Platou analyst Jeremy Sussman downgraded Teck Resources to Neutral following a reduction in copper price forecasts.
02/26/19
RILY
02/26/19
NO CHANGE
Target $125
RILY
Buy
Arch Coal added to Alpha Generator Pick list at B. Riley FBR
B. Riley FBR analyst Lucas Pipes added Arch Coal (ARCH) to his firm's Alpha Generator Pick list in place of Teck Resources (TECK). Arch is the analyst's favorite name in the met coal space due to its "strong" cash flow generation profile, "accommodating" capital return policy, and "attractive" growth project with Leer South. He has a Buy rating on the shares with a $125 price target.
04/09/19
LEHM
04/09/19
NO CHANGE
LEHM
Barclays still positive on Metals and Mining, downgrades three on valuation
Barclays analyst Matthew Murphy remains positive on shares in the North America Metals and Mining space. The potential for higher recession probabilities could still drive demand for "safe assets," Murphy tells investors in a research note. Further, copper should benefit from a sequential acceleration in China during Q2, says the analyst. He sees several names with "significant upside" and "catalyst potential" including Teck Resources (TECK), Barrick Gold (GOLD), and Newmont Mining (NEM) and Goldcorp (GG). To reflect valuation, Murphy upgraded OceanaGold (OCANF) to Overweight from Equal Weight and downgraded to Equal Weight from Overweight shares of Agnico Eagle (AEM), Franco-Nevada (FNV) and Wheaton Precious Metals (WPM).
04/04/19
MKMP
04/04/19
NO CHANGE
Target $26
MKMP
Buy
Teck Resources' coking coal operations performing well, says MKM Partners
MKM Partners analyst Daniel Scott kept his Buy rating and $26 price target on Teck Resources after its Investor Day presentation. The analyst says the company's coking coal operations - his area of focus - is "performing well in a continued strong commodity environment" and offers the "best reserve life" in his coverage. Scott adds that coking coal assets will be Teck's "free cash flow generating machines" over the intermediate to long term, supporting the company's already "strong financial position" with CAD6.6B of liquidity an no significant maturity until 2024.
BTU Peabody Energy
$24.45

-0.855 (-3.38%)

04/01/19
DBAB
04/01/19
INITIATION
Target $33
DBAB
Buy
Peabody Energy initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli initiated coverage of Peabody Energy with a Buy rating and $35 price target. While coal faces some headwinds from the negative sentiment, the main attraction towards the stock is cash flow as the company benefits from a "strong" balance sheet post the restructuring in the last downturn, Santarelli tells investors in a research note. He views Peabody Energy's capital management program as attractive.
03/31/19
DBAB
03/31/19
INITIATION
DBAB
Buy
Peabody Energy initiated with a Buy at Deutsche Bank
03/20/19
03/20/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Lyft (LYFT) initiated with a Buy at DA Davidson. 2. KalVista (KALV) initiated with a Buy at Needham. 3. Peabody Energy (BTU) initiated with an Outperform at Credit Suisse. 4. Fox (FOXA) initiated with a Buy at BofA/Merrill. 5. National General (NGHC) initiated with a Buy at Compass Point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/10/19
MKMP
04/10/19
NO CHANGE
Target $40
MKMP
Buy
Peabody Energy price target lowered to $40 from $44 at MKM Partners
MKM Partners analyst Daniel Scott lowered his price target on Peabody Energy to $40 going into its Q1 earnings, saying that while the coking coal side of its business looks "strong", the "seaborne thermal prices have fallen dramatically." The analyst also notes that while the management is bridging the production gap amid recovery efforts at North Goonyella with Shoal Creek, his model calls for a lowering of estimates and price target. At current valuation however, Scott believes that Peabody Enegy still has "meaningful upside" and keeps his Buy rating on the stock.

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