Warrior Met Coal Sees Production Surge; Materion Updates Earnings Forecast; Contango To Acquire HighGold And More: Thursday's Top Mining Stories
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 02 2024
0mins
Source: Benzinga
- Warrior Met Coal HCC: Reported Q1 results with net income of $137 million, sales of $503.512 million, and adjusted EBITDA of $200.2 million.
- Materion MTRN: Reported Q1 results with net sales of $385.3 million, net income of $13.4 million, and updated full-year earnings forecast.
- Contango ORE CTGO: Will acquire HighGold Mining in a court-approved transaction valued at about $37 million.
- ArcelorMittal AMSYF: Reported Q1 results with a 5% increase in steel shipments, rise in EBITDA to $2 billion, and net income of $0.9 billion.
- Benzinga Mining: Acts as a bridge between mining companies and retail investors, offering connections through licensing@benzinga.com.
Analyst Views on HCC
Wall Street analysts forecast HCC stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for HCC is 83.00 USD with a low forecast of 72.00 USD and a high forecast of 100.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
3 Buy
4 Hold
0 Sell
Moderate Buy
Current: 98.330
Low
72.00
Averages
83.00
High
100.00
Current: 98.330
Low
72.00
Averages
83.00
High
100.00
About HCC
Warrior Met Coal, Inc. is a producer and exporter of steelmaking coal, also known as hard coking coal (HCC), operating longwall operations in its underground mines based in Alabama. The Company’s two operating mines, Mine No. 4 and Mine No. 7, and Blue Creek are located approximately 300 miles from its export terminal at the Port of Mobile in Alabama. The Company sells its coal to a diversified customer base of blast furnace steel producers, primarily located in Europe, South America and Asia. The Company’s HCC, mined from the Southern Appalachian region of the United States, is characterized by low-to-high volatile matter (VM) and high coke strength after reaction (CSR). Mine No.7 operates two longwalls, while Mine No.4 runs a single longwall. Mine No. 4 and Mine No. 7 are located approximately 20 miles east of Tuscaloosa, Alabama and 30 miles southwest of Birmingham, Alabama.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
