Dow and S&P again closed at an all time high. ALL coal stocks were down significantly except NRP. Can't explain it. I did not expect NRP to trade above $20 again in 2013. Saw no news except the Seeking Alpha post. Hope the move up continues.
Dow down 10 ALL coal stocks down except NRP. As usual NRP opened strong and fell back on relatively heavy volume.
Announced this morning that new fed chair (Yellen) would keep rates near zero through 2017. Should help a stock with an eleven percent distribution
Natural gas price dropping back near $3.50. Inventories to be announced at !0:30 this morning. We were 2 degrees above a record low in my area last night.
Did read about the registration offerings overnight. Do remember that when NRP made the OCI purchase Nick Carter said that NRP could possibly put another $50 million into that investment. Would hope that they will not sell shares to pay the distribution.
About the debt repayment. Do you think that NRP will try to refinance the $80 million due in 2014? Believe they have stopped reserving for debt repayment.
With this glowing presentation and with good comments from others, I wonder why the share price continues to crash and is now near the 2013 low. Since the day before ex, NRP shares are down almost 10%.
Another all time high for the dow and for the S&P. All coal stocks were up also EXCEPT NRP. NRP traded up until mid afternoon. More than 100,000 shares traded in short order and dropped NRP shares 40 cents. Stayed in the red till the close on above average trading. At the low of the day, NRP was about 40 cents above the 2013
low. Will get there this week
I would really like an answer re the cost to produce natural gas. When Exxon bought XTO for $41 billion (several years ago) they said that they needed $5/mcf to break even. Last week when CNX sold off most of their coal business they said that they could make money from marcellus shale when natural gas is above $3/mcf..
Read recently that more than 20% of natural gas produced now is being flared off. Would guess that any
selling price is better than just flaring. Hope you get more input on this subject.
Last week, an analyst upgraded BTU and all of the coal stocks blew out the roof (except NRP). No fundamental reason for the move. Coal stocks now continue the slide.
If you didn't notice JRCC was down 25% today to an all time low. Probably be the next coal stock to go belly up.
No reason to see a turn around for coal stocks in the short run. It's going to get really bad by year end.
Dow and some coal stocks recovered some of their very big earlier losses. NRP closed near the low of the day on above average volume. Will see new 2013 low this week.
Coal stocks are now giving back the big gains that they had last week. Last week end most analysts expected this and suggested that profits be taken. NRP did not participate in the move up last week but in moving down with the others. Going lower!
"coal and gas will continue to battle it out for market share". You are right on. And in the meantime, most gas and ALL coal stocks are getting killed. NO END IN SIGHT! That is the problem for NRP.
Dow closed at another all time high. Other coal stocks mixed. NRP was up a few pennies this morning, fell and traded in the red the rest of the day. Good comments from Motley Fools and Street Authority Daily (whoever that is) did not help. NRP will trade at a 2013 low this week.
Side note. Heard today that more than 20% of natural gas now produced is being flared off. Does that mean that we only have a 160 year supply of natural gas??? Gives me hope for my coal holdings (NRP)
Motley Fools and "The Street" have had positive comments for months.. Quote that I have not seen before is from "Smart Money". ("Smart Money loves NRP"). You can read this comment by pulling up
NRP under google - finance. None of these positive posts have helped NRP share price. Need
improvement in met and thermal coal fundamentals. I see no signs of that.
Dow up 22. As expected ALL steel and coal stocks down. Two more NRP pluses:for NRP:
1. "Smart Money loves Natural Resources Partners" .
2. Street Authority Daily again points out that insiders are buying NRP
Above two comments published yesterday. Not helping the stock price.
Natural gas down slightly this morning.
Really good article from Motley Fools. Motley Fools and "The Street" have been writing favorable articles about NRP for months. Even Zacks has a "hold" on NRP with a price target of $20. Doesn't help. The stock continues to dive.
Most of the analysts that I have read over the week end believe that the recent run up in coal and steel stocks is a fluke and that these stocks should be sold. I agree unless you are in for the long haul. There is no fundamental reason at this time to own coal shares.