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| HOLD | 4.980 | John Stephenson | Meteorological coal used in steel making. Cheap as a stock. Misses in terms of production and guidance issues. There is a consolidation theme in the industry. It could be a takeover target. But he still thinks it is a little risky. | 2011-09-28 | |
| TOP PICK | 6.250 | John Zechner | A lot of the cyclical stocks have come under big pressure. This one has been missing some of their production estimates and earnings for this year but thinks it will ultimately be acquired. Expecting it to get around $12 a share. | 2011-08-19 | |
| PARTIAL BUY | 6.840 | Bill Harris, CFA | Great little company that produces high-quality coal. It has high costs producing. If China slows down, and it could, this would be the canary in the coal mine because of high costs. Feels that China will be fine. Buy now to start with the idea of making further purchases when it drops further. | 2011-08-17 | |
| PAST TOP PICK | 8.950 | John Zechner | (A Top Pick July 23/10. Up 51.85%.) Good chance they could get taken out. | 2011-07-25 | |
| BUY | 8.860 | Hap (Robert) Sneddon FCSI | Strong upward trend since the early part of 2009. This is the right space to be in. Seasonality, there could be a short summer run. Good risk/reward right now. | 2011-07-06 | |
| PAST TOP PICK | 7.940 | John Zechner | (A Top Pick July 23/10. Up 30.03%.) | 2011-06-13 | |
| DON'T BUY | 8.540 | James Hodgins | Depends on your view of Chinese demand for met coal. Thinks their demand is going to fall during the last half of the year. This company is an emerging kind of growth producer but still relatively small. Prefers thermal coal. (See Top Picks.) | 2011-04-21 | |
| HOLD | 10.840 | Bruce Campbell | It could go a little bit higher, but it’s getting close to full valuation of $11-$12 unless coal continues to go higher. | 2011-04-05 | |
| HOLD | 8.800 | Jim Huang | Underlying leverage is coking coal price. High cost producers so you have to be positive on prices staying high. He thinks it will and maybe goes higher. Should do well in the next couple of years. | 2011-02-24 | |
| BUY | 9.610 | Derek Webb, CFA | Torrential rains in Australia have been pushing coal prices. Likes this company and coal. Stock price is moving sideways and is probably getting ready to move back up again. | 2011-02-17 | |
| PARTIAL SELL | 9.940 | Bill Carrigan | Looking at the different coal producers, he feels it is pretty close to the end for coal. If you are long, he would reduce. | 2010-12-20 | |
| SELL ON STRENGTH | 6.500 | Robert Lauzon | Prefers Westshore Terminals (WTE.UN-T). Expects this could get past $7. If you own, look for $7-$7.25 as an exit point. | 2010-09-13 | |
| TOP PICK | 5.960 | John Zechner | Strong producers. Likes metallurgical coal. Valuations have this as an exceptionally cheap stock. | 2010-07-23 | |
| BUY | 5.720 | Peter Hodson | Good company. Operating update last week was pretty good. Great leverage to the world's steel markets. | 2010-07-22 | |
| BUY on WEAKNESS | 5.120 | Peter Imhof | When playing any of the coal stocks, you are really looking at what the macro environment is going to be. If China and economy does well, coal will do well. He would treat as a trading vehicle because of its volatility. | 2010-07-16 | |
| HOLD | 5.350 | Derek Webb, CFA | Coal stocks all over the world have taken a pretty big hit. He would hang in with this one. Chances are if the world stays together it will go back to its old high. It was a big commodity correction over fears about China. | 2010-06-03 | |
| SPECULATIVE BUY | 5.740 | John Stephenson | Speculative buy but attractive. Theme is rising metallurgical coal prices that would be the catalyst. Tend to be a higher cost producer meaning higher leverage to the upside if prices rise and higher leverage to the downside if prices fall. Cheap relative to its competition. | 2010-05-28 | |
| DON'T BUY | 5.300 | Andrew McCreath | Buying coal stocks depends on a view of the economy. This one is highly volatile. He prefers to be defensive at this point. Contract prices for metallurgical coal will be sent in the next 2-3 weeks and will probably be $225-$230, which implies a trade of around 5X next year's earnings. | 2010-05-26 | |
| BUY on WEAKNESS | 4.990 | Jim Huang | (Market Call Minute.) Need high coal prices to break even and thinks this is likely over the next little while. | 2010-05-21 | |
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| BUY | 4.660 | Ron Meisels | Started to break below the 200-day moving average. Long term he believes it will recover but right now you want to get in only around $4 with a $3.75 stop loss. There may be some support coming in. | 2010-05-18 | |
| HOLD | 7.900 | Andrew Cook | Stock has had a great run. Think there is some more run left here but if it starts to go down he will take some off the table. At some point the price of coal has to plateau. Would not buy here, as there are better risk/reward situations. | 2010-04-26 | |
| HOLD | 6.710 | Jason Donville | Good quality name, more torque for sure. The trade in coal is a lot less cyclical than other commodities. | 2010-02-24 | |
| SELL | 6.420 | Martin Hubbes, CFA | Lock in some profits by selling half or your cost. It’s going to be a volatile ride. | 2010-02-18 | |
| BUY | 5.950 | Peter Imhof | Great barometer of what the economy is doing. If you believe China is growing and will still require metallurgical coal, the stock looks cheap. Very high beta versus the market so if you need some exposure on the long side, this is a good way to play. | 2010-02-11 | |
| BUY | 5.950 | Derek Webb, CFA | Coal is a commodity that is on a tear and taken a lot of people by surprise. Chinese steel mills are working full out so metallurgical coal is high. Bullish on coal. Good earnings momentum. | 2010-02-11 | |
| DON'T BUY | 5.250 | Colin Stewart | (Market Call Minute.) Likes the metallurgical coal theme but this is a junior company and you would have to live with a lot of volatility. (See Top Picks.) | 2010-01-28 | |
| BUY on WEAKNESS | 6.350 | Jeff Parent B. Eng. FCSI | Good-looking chart. A bit toppy at $4.50 with an upward trend line to that point, followed by a big breakout, which is always a very positive sign. Will probably consolidate here that wouldn't surprise him to see it drop to $6. | 2010-01-15 | |
| HOLD | 4.140 | Peter Hodson | Chinese steel demand is increasing so coal is going higher. Clean balance sheet and had some good production. He prefers the bigger US companies such as Walter Energy (WLT-N) because of better liquidity. | 2009-11-16 | |
| DON'T BUY | 3.900 | Stan Wong | Coal has been very hot. Pretty high at 47X forward earnings. Extremely volatile. Technically it is hitting a peak that it hit about a month ago so it is something he would watch very carefully. Doesn't rank too highly for him. | 2009-09-17 | |
| SELL | 3.970 | Bruce Campbell | Junior coals are quite cheap. It has no fall back plan so be careful. It can, and probably will, go higher. Should sell half if you have a large holding. | 2009-09-15 | |
| PARTIAL BUY | 3.890 | Andrew Cook | Has been a significant rebound on metallurgical coal prices but suspects it will be higher a year from now. It may need to go into a period of consolidation. If you are going to buy consider doing it in stages. | 2009-08-20 | |
| DON'T BUY | 3.940 | Laura Lau | Metallurgical coal for steel production and stainless steel looks like its bottom is starting to rebound. A marginal high-cost producer so there is volatility. Fully valued at this point. | 2009-08-14 | |
| Comment | 3.720 | Bruce Campbell | Coal is funny in that contracts are signed in March. Seasonally coal stocks have not done well over the fall but usually better in the spring. Things are different this year but if coal prices go back down this could drop in a heartbeat. This is a tradable stock, not Buy/Hold. | 2009-08-10 | |
| Comment | 3.210 | David Burrows | There is an expectation of an inventory rebuild across a bunch of industries. Metallurgical coal is directly in that supply chain and you could see coal companies go a long higher. | 2009-08-06 | |
| BUY | 2.860 | Lyle Stein | Metallurgical coal prices have been red hot. Started the year at $110 and spot is now going at $150. A great levered play on these coal prices. This is the best small-cap play in this area. | 2009-07-31 | |
| BUY | 2.880 | Stan Wong | Coal stocks are doing extremely well right now. Have lots of great assets in Alberta. Very strong earnings over the next little while. Small-cap mining company so very volatile. | 2009-07-30 | |
| BUY on WEAKNESS | 2.930 | Jeff Parent B. Eng. FCSI | Volume started picking up in March and is starting to see an increase right now. Broke out of a short-term triangle formation. Expect it will pull back to about $2.60, which would be a good entry point. You have to get out at about $2.20. Has the potential of going up to $4.30. | 2009-07-24 | |
| BUY | 1.690 | Gavin Graham | Didn't have enough cash because they where bringing lines in on production. Has not bottomed and is making new highs with each low being higher than the previous low. | 2009-06-04 | |
| HOLD | 1.390 | Jeff Parent B. Eng. FCSI | (Market Call Minute.) Looks like it is positing a lot right now. Very jumpy stock. Maybe Buy on the next good news. | 2009-05-13 | |
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| Comment | 1.190 | Lyle Stein | It has just been announced that metallurgical coal prices are settling in at $125/$130, down from $300. Not sure this is the bottom. You have to be prepared for volatility. | 2009-04-08 | |
| BUY | 0.720 | Peter Hodson | Fits in the takeover potential. Made almost as much as their share price in the most recent quarter. Estimates are $.17 a share in earnings going forward. Debt-free so there is not a huge amount of risk. Coal contracts are being signed at about $115. This company will be around for the next cycle. Little concerned about how much cash they will spend but it looks good for 09. | 2009-02-12 | |
| DON'T BUY | 0.590 | Michael Smedley | (Market Call Minute.) Would wait for better times in the coal industry. | 2008-11-25 | |
| Comment | 1.310 | Peter Hodson | Recent numbers were good. Good production, good cash flow and good cost control. Steel production is falling off a cliff so 24 months from now what will be the price of coal? It might be a little vulnerable coming into year end. | 2008-11-07 | |
| DON'T BUY | 2.010 | Jean-Francois Tardif | Metallurgical coal for steel production. Would not be interested in buying as he feels the world is going into a quite dramatic recession. Base metal commodities will go down. | 2008-10-17 | |
| DON'T BUY | 3.050 | Lyle Stein | Metallurgical coal has been the driving force. Trading at a ridiculously cheap multiple because of the $300 coal price. There is now some doubt about the steel market, especially in China. | 2008-09-09 | |
| DON'T BUY | 3.720 | David Burrows | He is putting coal in with energy, so does not own any at this time. | 2008-09-08 | |
| BUY | 5.110 | Bruce Campbell | Pure coal play but a junior. Statistically incredibly cheap. Analysts are predicting a double from here. Should move in any commodity recovery. | 2008-08-18 | |
| BUY | 7.470 | Ken McCord | One of the more volatile coal names but is looking for it to go higher. Expects it to at least meet and pass through its old high of $10.50. | 2008-07-29 | |
| TOP PICK | 6.940 | Peter Hodson | Good cash flow. Coal stocks have been killed in the last month or so but the cash flow hasn’t changed. Less than 2X forward cash flow. Western Canadian Coal (WTN-T) is in play and when it goes some of money will shift over. Any disappointed buyer may be interested in this one. | 2008-07-08 | |
| HOLD | 8.390 | Lyle Stein | The coal sector is on fire. He wouldn't buy it today but he would continue to hold it. | 2008-06-26 | |
| Comment | 9.530 | Brendan Kyne | Primarily metallurgical coal. Coal prices have done very well. Likes this sector. Steel demand is very high. They have a wonderful asset base. A lot of it is already reflected in the stock price. We consider it at $8 or $8.50. | 2008-06-06 | |
| Comment | 9.400 | Steve Carlin | He has been playing coal through Fording (FDG.UN-T). | 2008-06-03 | |
| HOLD | 8.500 | Andrew Cook | Price of coal has virtually tripled over the last year. People believe the price will stay at its current level for an extra year. This generates huge cash flows. You could buy a little bit here, but it has had a good run and there could be some profit taking before it goes higher. | 2008-05-29 | |
| BUY | 8.120 | Jean-Francois Tardif | Trading very cheap at 4X this year’s earnings. | 2008-05-27 | |
| TOP PICK | 8.300 | Peter Hodson | Almost went bankrupt in last cycle. Had production, rain and transportation problems and now all fixed and price of coal skyrocketed. Company could cash flow $4/share but stock is just above $8. Will be debt free later this year. Think this company will get bought by a Japanese steel company. | 2008-05-26 | |
| BUY | 6.910 | Derek Webb, CFA | Coal tends to rise with energy prices. Metallurgical coal is going up because steel prices have been skyrocketing. | 2008-05-16 | |
| Comment | 6.980 | David Burrows | Controversy on the spot price of coal at $300 and some believe it will not last. This company produces a couple of million tons of met coal. Some of the mines have relatively short lives. Developing another mine that could give them 5 years. (Also see Top Picks.) | 2008-05-06 | |
| Comment | 5.160 | Bruce Campbell | A junior Western Canadian metallurgical coal play. With $300 coal contracts and $80 costs, these guys are going to be free cash flow machines. | 2008-04-11 | |
| BUY | 5.540 | Gavin Graham | Leveraged play on coal. New contracts will $300 a ton versus the current $70. (He owns Fording FDG.UN-T) instead. | 2008-04-09 | |
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| PARTIAL SELL | 5.530 | Ron Meisels | Had a great huge breakout when it exceeded the $1.75 area. Chart shows a fantastic move. If you have it, you probably want to take a little bit of profit. The area in March/April is indicating some over bought conditions. | 2008-04-08 | |
| DON'T BUY | 5.210 | Peter Brieger | Had an enormous jump because of the increase in the price of coal. While cash flow for this year and next are terrific, there will be quite a drop in 2010. Stock is cheap, but he doesn't see the sustainability of the cash flow. | 2008-04-02 | |
| HOLD | 4.580 | Lyle Stein | The rumours are the price is going up but, would be a holder not a buyer. | 2008-03-28 | |
| BUY | 3.500 | David Burrows | Mentioned he liked fording and this one. Wouldn't give a reason, (special situation). | 2008-03-19 | |
| Comment | 3.250 | Bruce Campbell | Sold his holdings at just about this price. Coal is a bit of the Australian/Asian story with some shortages that are exasperating the whole market. Will not be $3.25 a year from now. Very risky. Possibility it could spike, but could also go back to $1.50. | 2008-02-28 | |
| BUY | 3.070 | David Burrows | (Market Call Minute.) | 2008-02-15 | |
| Comment | 1.660 | Peter Hodson | Believed in coal last year and had a lot of this stock. He sold his holdings in order to offset some capital gains, but at the wrong time when it just about doubled. Still likes coal. They will make some decent money at today's rate. With the surge of coal prices, they are in the sweet spot, but it works both ways. He may consider buying again. | 2008-01-31 | |
| BUY | 0.910 | Bill Carrigan | Not the only coal stock that has rallied. They all rallied off the same low. Make sure you've got a stop loss, suggests at around .75 | 2007-06-13 | |
| DON'T BUY | 0.780 | David Cockfield | Coal has run into problems in the last couple of years. You have to wait until the price of coal shows signs of increasing. Competition from Australia. Very difficult market. | 2006-12-07 | |
| DON'T BUY | 0.900 | Bill Carrigan | Money flows have been negative. Could be an insolvency. | 2006-07-17 | |
| DON'T BUY | 2.820 | Peter Hodson | Did a big financing which is going to sop up a lot of demand for the company. Would be better off with Arch Coal (ACI-N). | 2006-03-27 | |
| BUY | 3.100 | Peter Brieger | All the junior coal producers have had a very tough time recently. If you have a longer term view, it’s a great entry point. The Chinese have recently been crisscrossing B.C. looking to take stakes in the junior producers. | 2005-12-15 | |
| DON'T BUY | 2.520 | Peter Hodson | Has taken a giant, giant hit. There was talk that it was going to become an income trust and of course that was killed by the government. Had production and rail transportation problems. You now have a situation where the market cap is less than $100 million and you are going into year end tax selling so be cautious. | 2005-11-17 | |
| SELL | 2.340 | Michael Smedley | The small coal companies have had deliverability and cost problems. Would consider switching to a copper play or thermal coal. | 2005-11-10 | |
| BUY | 3.720 | Gavin Graham | Outlook for coal should be good for a few moer years. | 2005-10-31 | |
| WEAK BUY | 7.350 | Jean-Francois Tardif | Developing a coal project in the west. Stock doesn't look too good on the chart. Costs to produce has been going up. This company has disappointed many times. If the price of coal stays high, they should make a lot of money. Prefers others. | 2005-09-21 | |
| DON'T BUY | 9.550 | David Baskin | Like all commodities, coal prices will go up and down. Being driven by enormous energy demand and by the steel boom. Seeing steel prices dropping because of over capacity. Expect the next round of coal prices will be at lower prices. Thinks the best days are gone. | 2005-06-23 | |
| BUY | 9.600 | Gavin Graham | Continues to think coal is a good play. Now producing coal which can now be transported. | 2005-06-08 | |
| DON'T BUY | 9.180 | Bill MacLachlan | Highly unlikely that they will get back to their high in the $16 area. Will be very levered to energy prices. | 2005-05-17 | |
| DON'T BUY | 10.200 | Chris Fernyc | Ultimately in the long term full cycle, the only winners are companies that have low cost production. This company restarted some moth balled mines that weren't low cost, but are profitable currently due to the extreme spike in metalurgical coal prices. Not a long term investment. | 2005-04-25 | |
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| DON'T BUY | 10.300 | Chris Fernyc | Metalurgical coal is very cyclical in nature. A cautionary note on the junior coal companies in Canada:These are mines that are not cost competitive in a commodized industry. If coal prices roll back to $60, these companies won't make any money and will get mothballed again. Extremely high risk. | 2005-04-14 | |
| WEAK BUY | 10.900 | Michael Smedley | There are some strange difficulties. Deliverability, productivity. Starting a whole new mining game as a result of a massive demand. Would feel more comfortable with Fording (FDG.UN-T). Have to overcome their deliverability problems. | 2005-04-06 | |
| WATCH | 12.950 | Sandy McIntyre | Moving coal. Moving from development to production. Likely to be in growth. Longterm has a classic parabolic move on charts. | 2005-03-04 | |
| HOLD | 15.000 | Robert Lyon | Have good production coming on stream and thinks it will become an income trust, maybe in '06. | 2005-01-11 | |
| DON'T BUY | 14.650 | Norman Levine | Pricing of coal has gone through the roof and stocks have probably been over done and will probably come down fast. Would stay out of the way in the near term. Look for China to start exporting steel, especially lower grade steel. Would prefer a Teck Cominco. | 2005-01-05 | |
| BUY | 16.090 | Peter Hodson | It's been a high flyer. Probably one of the next categories of coal companies in terms of the Canadian market. People are starting to look for a trickle down effect and see what else is out there. Signing some good contracts. They could have some very serious earnings over the next couple of years. Some talk about them becoming an income trust. | 2004-12-20 | |
| BUY | 13.200 | Michael Smedley | Metalurgical coal prices have gone up strongly. Having a little correction. China can't produce what it has. Should continue strongly. | 2004-12-07 | |
| BUY | 13.900 | Jean-Francois Tardif | Has just made their first shipment to Japan. Coal prices have increased substantially. If they stay where they are, coal stocks should do very well. | 2004-12-03 | |
| WEAK BUY | 14.160 | Bill Harris, CFA | The negative is that Cdn coal is a 2nd tier asset. A fantastic resource in Australia and South Africa. A start up. | 2004-11-25 |