Still bullish on TER. Latest corporate connect broker report had DPS of 30c. If you make a conservative base case of 20c DPS trimming their coal price assumptions. At current prices that’s a 30 - 40% div yield.
They also have next to no debt, and higher coal prices rolling over in April. China pollution data implies higher activity and demand for energy increasing. Importing 360m tonnes from 300m. For comparison top 3 coal exporters only able to sell 30m tonnes each per year so China is still a very high marginal buyer of coal.
India also needs to increase their coal reserves from 12 days to 21 days. Korea also need to find more energy and can no longer buy from Russia on 1st April 2023 and we are getting closer to the European summer / next winter so the coal contracts are already up 10-15%.
Regal AM still hold 13% as of a couple of weeks ago. Plus Macquarie have a significant amount. Good commodity houses.
TER UNDERVALUED FAIR VALUE $1.20, page-287
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Last
21.0¢ |
Change
0.010(5.00%) |
Mkt cap ! $164.1M | |||
| Open | High | Low | Value | Volume |
| 20.5¢ | 21.0¢ | 20.0¢ | $248.9K | 1.214M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 139514 | 20.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.0¢ | 299192 | 14 |
View Market Depth
| Last trade - 11.29am 04/11/2024 (20 minute delay) ? |
| TER (ASX) Chart |