Hi Borano,
General uncertainty is high (macro, US tightening cycle, RBA tightening cycle) and its mid year. As a result volumes are light, especially ahead of US rates decision this week. The market was sideways and uninspired today.
CRN uncertainty is also high as they are looking to buy more mines which brings the risk of overpaying and the need to issue equity. To keep M&A optionality they have backed off the dividends, so that has changed my thesis for owning this stock. Disappointing. This means a lot of CRN buyers hold off and people who lose patience drive the price lower on light volume. Patience is valuable is this situation and I expect it will be rewarded in coming quarters. Personal view, not advice!
CRN can improve certainty by announcing they are not buying assets in Australia and give a trading update about what I expect is growing demand offshore.
If pricing gets really crazy on the BHP assets, maybe they sell Curragh to whoever buys Blackwater and focus on the US where coal investment is welcomed and treated fairly.
Thanks for the charts @slick, it does feel there is a more solid bid tone in the last few sessions.
- Forums
- ASX - By Stock
- CRN
- Ann: AGM 2023 Presentation Materials
Ann: AGM 2023 Presentation Materials, page-26
-
-
- There are more pages in this discussion • 20 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CRN (ASX) to my watchlist
(20min delay)
|
|||||
Last
$1.16 |
Change
-0.035(2.94%) |
Mkt cap ! $1.936B |
Open | High | Low | Value | Volume |
$1.21 | $1.21 | $1.16 | $2.323M | 1.984M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 46587 | $1.15 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.17 | 72963 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 46587 | 1.150 |
2 | 4270 | 1.140 |
1 | 3770 | 1.135 |
4 | 13470 | 1.130 |
1 | 3770 | 1.125 |
Price($) | Vol. | No. |
---|---|---|
1.170 | 72963 | 5 |
1.175 | 28887 | 4 |
1.180 | 3770 | 1 |
1.185 | 25229 | 2 |
1.190 | 20434 | 3 |
Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
Featured News
CRN (ASX) Chart |