Upgrades & Downgrades

March 2024

Today I’m going to initiate coverage of Coronado Global Resources, CRN.AX. I’ve been short Coronado for a couple weeks now and I just noticed that I haven’t “officially” added it to my equity coverage. The problem with Coronado is the Curragh mine, which has uneconomic long term supply contracts. For example, at $300/mt PLV, Curragh was basically loosin…