B.Riley FBR analyst Lucas Pipes reiterated a Buy rating on Contura Energy Inc (CTRA) today and set a price target of $67. The company’s shares closed last Monday at $31.41, close to its 52-week low of $29.45.
Pipes wrote:
“Yesterday before the open, Contura Energy (CTRA) reported a solid operational 2Q, posting adjusted EBITDA of $141M, beating both our estimate of $101M and the consensus $104M. The beat was driven by costs/ton that came in much lower than 1Q. Costs/ton in the CAPP met, CAPP thermal, and NAPP segments were $85.02 (vs. our $87.28 estimate), $51.93 (vs. our $60.52 estimate), and $31.28 (vs. our $35.81 estimate). Shipment volumes of 6.4M tons were in line with our estimates. Management revised full-year sales volumes slightly lower to 23.9M-25.6M tons as a result of weak demand for spot sales in 2H19 amid soft American markets.”
According to TipRanks.com, Pipes has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.9% and a 40.3% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Novagold Resources Inc New, and Covia Holdings Corporation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Contura Energy Inc with a $67 average price target.
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Contura Energy Inc’s market cap is currently $602.7M and has a P/E ratio of 1.69. The company has a Price to Book ratio of 0.56.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CTRA in relation to earlier this year.
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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.
