China Coal Energy's results beat expectations Capital management giant BlackRock has bought resource stocks in a big way

By    12 Apr,2022

According to Minsheng Securities' research, against the background of the upward adjustment of LTA benchmark, the company's integrated selling price pivot upward is more certain, while the production capacity under construction continues to be put into operation and the production of self-produced coal is expected to continue to grow, the company is expected to increase in volume and price in the future, with broad development prospects.

Based on the company's latest earnings report and current coal price, Minsheng Securities raised its earnings forecast, expecting the company's net income to be 23.858/257.67/26.51 billion yuan from 2022-2024, corresponding to EPS of 1.80/1.94/2.00 respectively, corresponding to PE of 4 times on April 11, 2022. Maintain "Recommend" rating.

China Coal Energy's first quarter performance is a microcosm of this year's coal stocks. At the same time, the Hong Kong coal sector from 2022 year-to-date gains, the overall sector rose to a new high in the year in the 12th session.

Hong Kong stocks coal sector up trend chart In addition, foreign capital is also increasing positions in a number of Chinese resource stocks.