MCC - Macarthur Coal

[Miro]

MacArthur Coal has released its FY2009 financial report

URL: http://www.macarthurcoal.com.au/AR09/index.html

Quickly looking at the P/E ratio, earnings, debt/equity ... looks like it's heading higher

 

[Logique]

Trading halt this morning, anyone got any info?
CEY and WHC ran up, but are coming back off, and importantly are not themselves in a halt. Dalrymple Bay loader facilities came back on stream sooner than had been anticipated, don't know if this is related somehow.

 

[YELNATS]

$13.00 per share very conditional offer from Peabody (US company?), however not recommended by MCC directors. Took some profit this afternoon above $14.00. Directors still interested in proceeding with Gloucester merger. Interesting times for MCC.

 

[roland]

I'm out at $14.10 - can you believe that I have been holding since 4/8/2008 ??

All in all, did quite well, dividends as well. Still a little annoyed that I didn't go for the $6.00 offerring a little while back but I was already over committed.

 

[YELNATS]

Took further profit today at $14.90. How much higher will this one go bearing in mind the Peabody offer is $13.00.

Still have a minor holding, very hesitant and sorry to sell it off, but you can't have your cake and eat it too.

 

[Sharejon]

These are indeed interesting times for Macarthur, with Peabody and New Hope wanting to take over, whilst the Gloucester Deal is around as well. I wonder if Peabody will come back with a 3rd improved offer?


edit: as we speak Macarthur just opened approximately $1 higher

 

[zzaaxxss3401]

I'm out at $14.10 - can you believe that I have been holding since 4/8/2008 ??

All in all, did quite well, dividends as well. Still a little annoyed that I didn't go for the $6.00 offerring a little while back but I was already over committed.

I'm out too at $15.88. Bought just over 12 months ago at $3.95. Didn't go for SPP either.

 

[noirua]

A funny old stock are MCC now. No doubt about its PCI coal credentials; and semi-hard coke potential going forward.
Two bids by the wayside plus the bid for GCL in the bonfire.

No marks out of ten for the way Macarthur's directors dealt with this one.

Are MCC worth $16, $15, $12, $10 who knows.
Probably worth about $12 but the MCC directors would get the right hump if someone bid that. Personally I'd only bid about $10.50 but all that PCI coal may well excite the Chinese.
In other words it's a funny old stock with great credentials and a board who seem to want about $18 a share.

 

[Hopeful]

Down 9% today guddmnit. I see $10 as the next target, but who knows, if BHP want it , it will skyrocket. Why does it drop 9% ex dividend when the divvie is just 17cents per share?

 

[oldblue]

Down 9% today guddmnit. I see $10 as the next target, but who knows, if BHP want it , it will skyrocket. Why does it drop 9% ex dividend when the divvie is just 17cents per share?

I wouldn't blame the ex-divvy thing.

Rather, I'd be looking at the dilutive effect of the Institutional capital placement of $438m worth of shares at $11.50 ps.

 

[Hopeful]

I wouldn't blame the ex-divvy thing.
Rather, I'd be looking at the dilutive effect of the Institutional capital placement of $438m worth of shares at $11.50 ps.

Closed at 11.25 , more than factoring in the dilution. Thanks for the reply.

 

[noirua]

Analysts remain fairly neutral of McArthur Coal after all the takeover fuss has died down. Remaining investors must still be hoping the management can get $20 a share for this Australian PCI Coal favourite.
The company still has a lot to prove on the profitability front but investors know that Centennial went for high bucks and they're no McArthur Coal - I'm sure the directors are quietly thinking that.

 

[noirua]

Analysts remain fairly neutral of Macarthur Coal after all the takeover fuss has died down. Remaining investors must still be hoping the management can get $20 a share for this Australian PCI Coal favourite.
The company still has a lot to prove on the profitability front but investors know that Centennial went for high bucks and they're no Macarthur Coal - I'm sure the directors are quietly thinking that.

Want a gamble that shouldn't be a gamble; and that is Macarthur Coal. On its own it looks as if it will continue to expand and become increasingly more profitable.

Surely another bid will come for Macarthur I hear so many chorus, on the other hand, the stock is not cheap on a yield under 2%. But an Asian bidder may be prepared to pay well over the odds for the PCI Coal King of Australia.

However indeed though, if no bid ever arrives again we could see the stock price not progressing and that's not good on a minute yield.

I feel the Macarthur directors pray every night, perhaps together - who knows - and hope for a $20+ bid and maybe even $24. But then, Felix Resources shareholders wanted $24 and the big shareholders AMCI, Travers Duncan and Brian Flannery succumbed to recommending just $18.05; I hear all their UK investors, former investors now, crying out 'Jolly bad show'.

So we see the direct gamble in MCC that overshadows the companies growth and optomistic view of PCI coal.

 

[SilverRanger]

Peabody is now having another go at MCC @ $15.5, is it just (yet again) another bad timing or did they come prepared for the carbon tax?