B.Riley FBR Maintains a Buy Rating on Contura Energy (CTRA)

In a report issued on March 24, Lucas Pipes from B.Riley FBR maintained a Buy rating on Contura Energy (CTRA), with a price target of $9.00. The company’s shares closed last Thursday at $4.39, close to its 52-week low of $1.93.

According to TipRanks.com, Pipes is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -15.5% and a 34.8% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Novagold Resources New, US Silica Holdings, and Century Aluminum.

The word on The Street in general, suggests a Hold analyst consensus rating for Contura Energy with a $7.00 average price target, implying a 62.8% upside from current levels. In a report issued on March 20, Benchmark Co. also initiated coverage with a Buy rating on the stock with a $8.00 price target.

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Based on Contura Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $470 million and GAAP net loss of $39.81 million. In comparison, last year the company earned revenue of $609 million and had a net profit of $6.82 million.

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Contura Energy, Inc. engages in providing met and thermal coal. It operates through the following business segments: Central Appalachia Operations (CAPP), Northern Appalachia Operations (NAPP), Trading and Logistics; and All Other. The CAPP segment covers mining complexes in Nicholas County, West Virginia, and the McClure; as well as Toms Creek mine complexes in Dickenson and Wise Counties, Virginia. The NAPP segment includes the Cumberland mine complexes. The Trading and Logistic segment is involved in coal trading activities and coal terminal services. The All Other segment consists of general corporate overhead and corporate assets and liabilities, elimination of intersegment activity, and discontinued operations. The company was founded on June 26, 2016 and is headquartered in Bristol, TN.

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