Glad you are posting again, jrad, especially the positives about NRP. No positive news in sight for met coal and that has to be a key to NRP's improved future numbers. A few more met coal mines have been shut over the past few months. Need to see more of that.
Zacks maintain a "hold" on NRP shares. Will soon see the same from The Street and Motley Fools..
All three gave NRP the same rating after 1st quarter results were reported. Share price went to $12.78 then.
NRP SHARE PRICE HEADED MUCH LOWER! Coal business gets worse by the day. Oil and natural gas not too good either recently.
Quoting Dwight Dunlap, CFO, "We intend to continue to pay down our debt over the remainder of the year and use our liquidity and improved credit to fund the growth and continued diversification". To tell you the truth, I'm not sure what that means. How do you pay down debt and fund growth?
Dow up 60. Good move up for most coal shares. NRP traded near flat at the open even with good 2nd quarter results. Now moving up slightly. Natural gas up 3 cents. Watch ng inventories at 10:30.
Met income and beat revenue (significantly). Waiting for jrad's analysis
Would say that Nick Carter confirmed Kevin Crutchfield's comments this morning. Met coal is a disaster with no improvement in sight and thermal coal market is dropping (Crutchfield is CEO of ANR).
Since ex date, NRP shares have dropped more than 2 distribution amounts. After last distribution ex date, NRP shares dropped more than 9 distribution amounts (dropped $3.28). The coal market is worse now than it was in May 2014. NRP shares will continue to crash.
Dow opened down nearly 55 but now turning around. NRP now below $16 and at the low of the day. Going much lower. Good move up for most other coal stocks. With disastrous 2nd quarter results, ANR is up 6%.
Natural gas unchanged.
Very discouraging comments from ANR's CEO. Sees no improvement in met coal pricing in 2014 and into 2015. Also says that thermal coal prices are dropping because of the drop in natural gas prices. ANR lost half a billion dollars in the second quarter but some of it was one time charges.
Say that they will now lose 36 to 49 cents per share. Had previously said that they would lose 40 to 53 cents per share. They are shutting met mines in Australia because they are losing money with current met coal prices.
Steel stocks have exploded upward recently. US Steel up 30% in 14 trading days. US Steel recommended today with price target of $40. If steel demand picks up, met coal usage will pick up. Would help NRP lessees.
Dow recovered from down 40 to up 75. Big move up for most coal stocks (BTU, ACI, ANR, and WLT).. NRP closed in the red. Headed below $16 tomorrow.. Going much lower.
Thank you for the correction, jrad. Will continue to use my age as an excuse.
Second quarter results reporting date came from Kathy Roberts, NRP's VP of Investor Relations.