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MCC - Macarthur Coal

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Yep and just wondering, do you know what % of MCC sales are thermal coal as opposed to cokign coal?

Earnings and Dividends Forecast (cents per share)
2008 2009 2010 2011
EPS 28.0 135.8 177.1 135.7
DPS 17.0 68.0 114.7 70.0



Also interesting is:

16th of October: ASX release Upgrade the Half Year Profit Guidance and then on
13th of November: ASX release, Reaffirm that is on track to meet its profit guidance and then on
16th of December: ASX release, announce Half Year Profit Downgrade and suspension of interim dividend



thx

MS
 
Hi m_s, mainly PCI coal as the company built washery plant to upgrade the thermal - FLX are doing the same at their Yarrabee mine. In May this was great news and now most unfortunate.
Still, it can be sold as thermal coal but the profit margin is much slimmer.
 
What a right mess we've got ourselves into.

MCC seem to be heading for exchange losses on hedging of around $80 - $100 million ($48 million in the first half) for the full year as the positions run out on 30th June 2009.

Coal sales have improved in the second quarter but more thermal is being sold in place of more profitable PCI coal.

Still, the stock has fallen from around $20 right down below $3.00, so the punishment appears well and truly done, maybe overdone.
 

Hm yeah could be a bottom in this one

Earnings and Dividends Forecast (cents per share)
2008 2009 2010 2011
EPS 28.0 68.1 65.0 128.7
DPS 17.0 9.0 16.0 56.7



 
MCC has gone through the roof lately. Late Feb it was in the $2.30's, closed at $3.50 today!

And the majority of the rise has been this week. Anyone know why?
 
gav said:
MCC has gone through the roof lately. Late Feb it was in the $2.30's, closed at $3.50 today!

And the majority of the rise has been this week. Anyone know why?
Click to expand...

Good solid company with a bright future that was oversold like so many others IMO. Why was it sold down to $2.30? Back hander for no dividend perhaps. But it did provide an opportunity to those interested to acquire at a more than reasonable entry price.
 
Seems to be a lot of people looking for income in the coal sector together with a takeover bonus in mind. Risk in markets looks a lot less now and MCC are a well run company, with a long history of growth.
 
Analysts are divided in regards to their recommendations of MCC.

On Aspect Huntley they have 13 analysts with recommendations for MCC.

Sell -5
Hold -3
Buy -5

:dunno::dunno::dunno:
 
tommymac said:
Analysts are divided in regards to their recommendations of MCC.

On Aspect Huntley they have 13 analysts with recommendations for MCC.

Sell -5
Hold -3
Buy -5

:dunno::dunno::dunno:
Click to expand...

Yep, that's exactly how I feel about MCC. I saw that IOOF made a decent profit out of this one over a 2-3 week period in March.
 
MCC may well have fallen much too far and in the general stock recovery MAY well continue to prove this weeks moves to have signalled an opportunity.
Most of the bad news on currency hedging, higher grade coal being sold as thermal and cancellation of the interim dividend, are well known.
 
roofa said:
Yep, that's exactly how I feel about MCC. I saw that IOOF made a decent profit out of this one over a 2-3 week period in March.
Click to expand...



Earnings and Dividends Forecast (cents per share)
2008 2009 2010 2011
EPS 28.0 71.3 37.5 52.3
DPS 17.0 4.0 13.7 16.0



thx

MS
 
Earnings and Dividends Forecast (cents per share)
2008 2009 2010 2011
EPS 28.0 71.3 37.5 52.3
DPS 17.0 4.0 13.7 16.0

Got this one >5% off it's low so again more than happy to hold for the longer term.
 
Macarthur coal appears to be on a roll. Cancelling the interim dividend whilst sorting out coal supplies seems to be a trick they've got right for once. Some stake building is going on and interest may continue on for a while yet, on the back of this.
 
The roll continues for Macarthur as the stock price chases along in a seeming race with Felix Resources. Both companies seem similar in their present outlook in unloading thermal and PCI coal on to the spot market.
PCI coal appears to be the name of the game here as customers prefer this, now cheap, coal instead of lesser grades of thermal.
Macarthur could well surprise here with better than expected end year results.
 

Nice move up

Earnings and Dividends Forecast (cents per share)
2008 2009 2010 2011
EPS 28.0 72.4 32.0 52.3
DPS 17.0 3.0 9.7 16.0





thx

MS
 
michael_selway said:
Nice move up

Earnings and Dividends Forecast (cents per share)
2008 2009 2010 2011
EPS 28.0 72.4 32.0 52.3
DPS 17.0 3.0 9.7 16.0
[/IMG]
thx MS
Click to expand...
Nice group of assessments there m_s, seems to cover the overall view of Macarthur Coal at the present time.
 
MCC have announced a successful oversubscribed placing of $190 million of company stock at $6.00 a share.
Existing holders will be given the opportunity to buy up to $15,000 of stock at $6.00 a share. An announcement on the issue will be given to the ASX shortly.
The money will go towards the development of the Middlemount Mine.
 
Macarthur Coal have run up very quickly indeed and all this new stock and need for cash, puts increased dividends further down the line. A good company now that needs these higher prices for thermal coal to spread to the PCI coal sector as well.
Need the cash for further investments elsewhere, not wanting to break my 70% to 80% cash and bonds rule, so I'm out despite a small loss overall this time.
 
MCC has run up 9% today, I can find no news from anywhere on why this is so.... Anyone know any reason why this stock is running up so quickly when the commodities have come right down today???

Darn it- I should have purchase their $6 offer just over a month ago.

I do not think I should make the same mistake with the WHC offer of $3.05, when it is trading 15% over this price.

MCC was trading at only approx 5% over their offer for the majority of the offer period. Now it skyrocketing. Fundamentally at PE= 11 it still quite good yet I would like better than 2% yields. Wish this company would pass on their profits greater than 2% pa.

It very rare to get over 5% yield in the Energy\Materials sector. Yet the few that have had big yield have really run up hot in the last month. Eg. Boart

 
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