Extract from latest Wilson HTM report on CEY (Andrew Pedlar - Analyst):
"June quarter production was in line with expectations with mines operating well, including two with long-wall panel changes. Newstan has finally ceased mining. The proportion of CEY’s coal exported is increasing from ~30% for the year to June, to 37% for the June quarter. We expect about 50% of CEY’s revenue to be from exports this fiscal year.
We retain our BUY recommendation with our target price ($6.48) at a 136% premium to the share price, which values CEY on 4.2x operating cash flow".
Nice!!
CEY Price at posting:
$2.83 Sentiment: LT Buy Disclosure: Held
