By Tom Sartor
06 October 2021, 9:00 AM
Physical market feedback suggests that upside risk to our (conservative) base case coal price forecasts for Whitehaven Coal (ASX:WHC) will persist into 2022. Spot thermal coal prices continue to far exceed our expectations.
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By Tom Sartor
28 September 2021, 8:30 AM
Sandfire (ASX:SFR) appears to have paid a full-ish price for MATSA on our input assumptions. Upside therefore looks linked to higher metals pricing, operating improvements and life extensions.
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By Tom Sartor
22 September 2021, 9:00 AM
Abnormals linked to Acland’s ramp-down took some shine off New Hope Corporation's (ASX:NHC) otherwise strong FY21 operating results.
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By Tom Sartor
19 August 2021, 1:00 PM
The larger dividend was the only real surprise among 1H21 financials.
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By Adrian Prendergast
07 June 2021, 10:30 AM
After a remarkable run, and hefty shareholder returns, we see the risk/reward balance for FMG finally skewed to the downside.
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By Adrian Prendergast
31 May 2021, 2:30 PM
Reporting material cost inflation in the Pilbara, Fortescue Metal Group (FMG) has had to downgrade capital expenditure assumptions for Iron Bridge.
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By Adrian Prendergast
21 April 2021, 3:30 PM
Despite heavy weather and COVID-19 impacts, BHP posted a solid underlying operational performance across iron ore, copper, petroleum and nickel. However, metallurgical and thermal coal disappointed.
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By Adrian Prendergast
18 February 2021, 5:00 PM
South32 reported a strong 1H21 earnings result that exceeded estimates. The SAEC sale is still a major value catalyst, and worth waiting for.
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By Adrian Prendergast
19 February 2021, 12:00 AM
With Fortescue Metal Group easing our fears over the Iron Bridge magnetite project and reporting a strong 1H21 result, we maintain a Hold rating.
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By Adrian Prendergast
18 February 2021, 12:30 PM
Woodside Petroleum reported earnings well short of consensus expectations for 2H20. Growth projects remain reliant on Woodside’s ability to deal its equity in these projects.
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