CRN – Morgans rates the stock as Add

Morgans says the investment case for Coronado Global Resources is best illustrated by an approaching net-cash position, just months after two recapitalisations. Way-higher-than-expected pricing is thought to outweigh downgraded 2021 guidance.

The broker lifts its target price to $1.63 from $1.21. Were debt funding terms not complicating the ability to pay dividends, Macquarie believes Coronado’s shares would be trading much higher. Add rating maintained.

Sector: Materials.


Target price is $1.63.Current Price is $1.38. Difference: $0.25 – (brackets indicate current price is over target). If CRN meets the Morgans target it will return approximately 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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