B.Riley FBR analyst Lucas Pipes maintained a Buy rating on Contura Energy Inc (Other OTC: CNTE) today and set a price target of $90. The company’s shares opened today at $66.70.
Pipes noted:
“Contura (CNTE) reported 1Q18 adjusted EBITDA of $99M, above our estimate of $76.1M. The beat was primarily due to stronger price realizations for met coal and improved volumes in the Trading and Logistics segment. Prices in the CAPP and NAPP segment came in at $141 and $43.46 per short ton, respectively, above our estimate of $130 and $42.2 per short ton. Costs in the CAPP segment increased by 9.75% to $82/short ton due to increased coal purchasing activity which had approximately a $4 impact on unit costs. In addition, total shipments in the NAPP decreased by 800K tons from the prior year due to a longwall move in February and challenging weather conditions. In the trading and logistics segment, Contura continued to exceed our expectations, generating $42.8M in adjusted EBITDA.”
According to TipRanks.com, Pipes is a 5-star analyst with an average return of 8.6% and a 67.7% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Hallador Energy Company, and Cloud Peak Energy Inc.
Contura Energy Inc has an analyst consensus of Moderate Buy, with a price target consensus of $90.
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The company has a one-year high of $70 and a one-year low of $54. Currently, Contura Energy Inc has an average volume of 19.72K.
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Contura Energy, Inc. engages in the ownership and operation of coal mines. It operates through the following segments: Central Appalachia Operations (CAPP), Northern Appalachia Operations (NAPP), Trading and Logistics; and All Other.
