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Metallurgical coal producer Coronado Global Resources (ASX:CRN) has today jumped on a solid quarterly and news of impending production boosts in a world where ESG has taken the back burner.
Coal companies by and large became cool again during the COVID-19 years when a combination of factors led to high prices.
In a sentence, the first year of lockdown shut everything down, but the consumer recovered quickly – and there wasn’t enough of anything to go around.
So it was that in mid-April 2022, Coronado shares were worth more than $2.30/sh.
Today, they’re worth just a little over 70 cents.
Thursday’s 4.6% boost brings CRN shares up to 74cps, but if you look at the company’s performance since listing in late 2018, it’s currently at record lows.
Despite this, the stock’s still rated a buy by at least six brokers. The company’s freshly producing underground Mammoth mine at Curragh is likely of interest to analysts as a forward earner, so too for the expansion of Buchanan.
The company clocked nearly $560M of revenue in Q4 of 2024.
CRN last traded at 74cps.
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