Said today that WLL is the worst of the crude producers because of debt and the fact that WLL has NO hedges. Appreciate rebuttals. I am heavy in a company that needs for WLL to do well.
One hour ago, The Wall Street Pulse set a price target of $15.17 for NRP shares (low of $13 and high of $17).
Never heard of The Wall Street Pulse before and they gave no reason for the price target.
Now that crude oil has crashed, we hear from producing countries and companies that they will be just fine with prices much lower ( ie Saudi Arabia - $30 Iran $20). All they have to do is cut production slightly and the price will double. Hard to understand the mentality. Happens across the commodity span. A few years ago, corn was trading for $9 a bushel. A year later, farmers planted 100,000 acres more in corn The price of corn is now $3. The farmers in my area lose money at this price. Afraid this will never change. Looks like most commodity prices are headed much lower.
Did see a few weeks ago that NRP bonds were trading down 3%. Believe that's a 12+% yield. Also seems to me that coal companies like ACI, ANR and WLT would do better to take a chapter rather than continuing with the massive losses even though they have financing for awhile longer.
On another subject,will you take a short term gain or Hold NRP shares for awhile? Believe we might see $10 before ex.
Obama is going to spit in your face tonight with his "war on coal" (State of the Union). And you are going to sit on your thumb and "wait for the coal business to get better". PATHETIC!!!!!
Iron ore and coal pricing now tied to the drop in crude oil. Both will continue to crash as crude moves down. Estimates for crude now into the $20. Coal might soon be FREE to the consumer..
NRP to pay the regular distribution (35 cents). Means that shareholders will get a 4.25% return on the year even if NRP kills the distribution the rest of the year. Will buy a few more shares tomorrow if I can buy below $8.25.
Dow recovered. Coal did not recover. ACI, ANR and WLt traded at record lows today. NRP 21 cents above a record low. Today's traders believe that distribution will be cut or eliminated.
Dow down 96. ALL coal stocks down. Most within a few pennies of a record low. Crude oil and natural gas crashing. Natural gas headed to $2.50. CNBC contributor this morning sees crude oil going to $25. Motley Fools warn about the "value trap" STAY AWAY FROM COAL STOCKS IN 2015 they say.
NRP down and headed for 5th consecutive week in the red. Eight trading days till ex (if there is an ex).
Gregory Boyce, Chairman of BTU (largest US coal company) over the week end said "Coal will continue to dominate world energy markets for years to come. Peabody is in the best position among US producers to take advantage of the turnaround in coal WHEN IT COMES". Would be good if MR Boyce could tell us WHEN THE TURNAROUND IS COMING. If it isn't soon, his company like most other coal companies will bankrupt.before the turnaround. Would be good if some of the coal company CEOs had a plan to make the turnaround happen (like shutting more mines).
Week end energy news was all negative. Crude oil forecasts now in the $20. Also saw gasoline predicted to drop into the 50 cent level.
Obama will continue his war on coal in his State of The Union Address tonight.
Next shoe to drop will be Obama's State of The Union address next Tuesday. He will continue to destroy the coal industry.
Glad you're in, jrad. Hope it works out better than last year..
Would really like to know who is doing all of the trading now. Volume is almost 3 times more than last year. Just announced that short interest is about 1.3 million shares so that isn't a factor. Strange!
Good holiday week end to all!
Because it saw a new record low this week and coal fundamentals are going to get worse next week than they were this week. WAITING FOR OUR LEADER TO DO SOMETHING.
IF NRP can continue the $.35 quarterly distribution, the shareholder will receive 4 distributions over the next 10 months. That's a 20% annualized return. I AM NOT RECOMMENDING THAT YOU BUY!
Dow down 25. Most coal stocks up slightly. NRP moving up on below average volume. Just 9 trading days till ex. Natural gas continues to fall even though there was a big drop in inventories reported yesterday.
Thank you, jrad,.. Do remember your earlier posting. Just did not know that a new filing has to be made when a relatively small number shares are purchased.