In line with my just previous post asking Wolfster for names of any coal companies he has come up with, the following came out from BMO.....me thinks coal may be a good place to be in right now as long as it has mines outside of Austrailia!
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Peabody Energy: Force Majeure Due to Queensland Flooding (U.S. Equity) (12/31)
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(BTU-NYSE) Outperform; Price - US$64.21; Target - US$77.00
Impact: Mixed
Peabody has issued force majeure notices for coal shipments out of Queensland due to accelerating rain and floods. The impact on volumes has not been disclosed, however with other miners such as BHP Billiton (BLT-LSE, GBP26.14, Outperform), Rio Tinto (RIO-LSE, GBP45.84, Outperform) and Anglo American (AAL-LSE, GBP33.86, Outperform) also announcing production disruptions, we believe it is likely spot coal prices will also increase in the near term. |
