Sweater time in NC. Sixty five degrees in NC right now. Usually near 90 at this time of the year. Won't use natural gas to cool. Also, won't support the global warming nuts. Which would be better for coal companies???
Alpha Natural Resources announced today that they are closing 6 mines in Central Appalachia. ANR leases mines from NRP but don't believe that any of the closures are owned by NRP. In the short run, ANR could increase production form those mines that they lease from NRP in order to meet contracted obligations. In the long run, ANR will not renew leases of NRP;s Appalachian mines.
NRP shares dropped to $12.78 after you sold. Turnaround caused by the purchase of 20,000 shares by NRP Chairman (Corbin Robertson). Share price held up recently by ex distribution date. Lost most of the distribution today. You will have the opportunity to buy below your sell price. You just need to decide where you want to reenter. The coal business is still sick.
NRP reports after the close August 6th. They need to meet analysts expectations to prevent a free fall of the shares. Even if they meet, the shares will fall.
Don't believe anyone is trading on insider information. Volume has been down recently. Cannot, however, be sure about that.
ANR up more than 9%. ACI, WLT and CLF up 5 to 6%. NRP UP LESS THAN 1% EVEN THOUGH THERE IS JUST ONE TRADING DAY TILL EX. If you are in NRP for the short run (less than 2 years) you should SELL tomorrow. Stock has dropped 10 to 25% each of the past 12 quarters. Most of those quarters showed record revenue and income.
NRP will report 2nd quarter results after the close August 6th. A MISS WILL TAKE THE SHARES TO $10.
Dow up 46 and above 17,000 to record high. Coal stocks moving up. ACI and ANR up more than 4% on ACI second quarter results (lost less than analysts had expected). NRP up less than half a percent even with ex coming Thursday. Natural gas down a penny.
After being down 80, dow closed up 22. After being up 30, NRP traded in the red but managed to close up
4 pennies. Two days till ex and then comes the crash.
I continue to enjoy and appreciate your posts jrad. Do you know how much of ARLP's revenue is from spot priced thermal coal and how much from previously booked which might have been at higher prices? If they can continue to show these results at current thermal coal prices, they will bankrupt many other coal companies.
I follow ACI, ANR, WLT and CLF. A world different world from the coal companies that you follow. Don't see how the big revenue differences can continue. If met and thermal coal prices stay at current levels, all of the coal stocks that I follow will bankrupt. Of course, bankruptcy allows them to wipe out the massive debt that they carry and compete again. Will know a lot more after all of the coal companies have reported second quarter results.
Steve Reitmeister is the best. His comments today:
1. "Thermal recovery? Not so fast".
2. "Met coal still looking at a long recovery".
THE COAL INDUSTRY IS SICK. NO RECOVERY IN SIGHT.
New lows for BTU and ACI. They will continue to drop as will most other coal company shares. Natural gas continues to drop. NRP moved up again. Five trading days till ex.