Foresight Energy (FELP) Gets a Hold Rating from B.Riley FBR


B.Riley FBR analyst Lucas Pipes maintained a Hold rating on Foresight Energy (FELP) today and set a price target of $5. The company’s shares opened today at $3.95.

Pipes observed:

“Energy (FELP) reported a 3Q miss, with adj. EBITDA of $57.6M, compared to our $85.6M. However, it is important to note that included in the company’s calculation for adjusted EBITDA is a $25M settlement charge related to the Deer Run royalty dispute with Natural Resource Partners. If not included, the company would have reported $85M in adjusted EBITDA. Overall, we believe Foresight had a very strong quarter operationally. The company achieved sales volumes of 6.1M tons and at improved prices and costs of $47.53/ t and $22.28/t respectively. Foresight management also provided bullish guidance for the remainder of 2018 and beyond. The company increased its 2018 sales volume expectations to 22.4M-23.0M tons (9M tons of exports) and adjusted EBITDA to $305M-$325M.”

According to TipRanks.com, Pipes is a 3-star analyst with an average return of 1.4% and a 50.9% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Novagold Resources Inc New, and Hallador Energy Company.

Currently, the analyst consensus on Foresight Energy is a Hold with an average price target of $5.

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The company has a one-year high of $4.62 and a one-year low of $3.28. Currently, Foresight Energy has an average volume of 14.58K.

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Foresight Energy LP engages in the production and marketing of thermal coal. It specializes in the operation and development of mining complexes with long wall mining systems. The company was founded on January 26, 2006 and is headquartered in St. Louis, MO.

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