Peter Epstein
MockingJay2011
Recent Articles by Peter Epstein
Jul 1, 2014
by Peter Epstein
What Would Make Me Buy This Coal Powerhouse?
Peabody Energy used to be the class act of the coal sector. Now, it's suffering greatly along with most coal peers with weak coal pricing. Peabody could be a good investment again, but only if both coking and thermal coal prices stage a rebound.
Jun 27, 2014
by Peter Epstein
CONSOL Energy: Great Company, But Fully Valued?
CONSOL has massively outperformed peer U.S. coal producers and deserves nothing but praise. It made a bold move away from coal by making a large natural gas acquisition that has paid off big time. But, is the stock still a buy? Well, probably not, and here's why.
Jun 26, 2014
by Peter Epstein
Vale Lives or Dies on Iron Prices
Like Rio Tinto and to a lesser extent BHP Billiton, Vale's stock price is closely tied to underlying iron ore prices. But, over the longer term Vale is a buy because it has the staying power to withstand a weak spot price and thrive when the iron ore price recovers.
Jun 24, 2014
by Peter Epstein
Teck Resources' Hidden Energy Asset
Teck Resources is a well known coking coal and copper producer with strong assets in low-risk countries in North and South America. It also is a top 3 zinc player. It also holds a 'hidden' asset, which the market may not be giving enough credit.
Jun 23, 2014
by Peter Epstein
Natural Resource Partners' 9.2% Yield Can't Be Beat
Natural Resource Partners's 9.2% yield is hard to match in a yield-starved world. This coal and industrial minerals master limited partnership saw some short-term volatility lately, but volatility has settled down, and this MLP is a solid long-term investment.
Jun 23, 2014
by Peter Epstein
Cliffs Natural Resources: Buy, Hold, or Sell?
There have been a number of articles on Cliffs Natural Resources in the financial press lately, most of them bearish. Is it even possible to forecast Cliff's prospects at this point? Or, is Cliffs a price taker and completely at the whim of the iron ore price?
Jun 20, 2014
by Peter Epstein
Walter Energy, Highly Leveraged to Coking Coal...and Debt
Walter Energy is highly leveraged to coking coal prices, but is also highly debt leveraged. While near-term bankruptcy is not a concern, that does not make the stock a buy. The recovery in coking coal markets will be slow and prices may never approach the highs of 2011.
Jun 20, 2014
by Peter Epstein
This 5.4%-Yielding MLP Is a Compelling Buy
Alliance Resource Partners is a coal master limited partnership that continues to offer compelling risk/reward. It has outperformed coal peers so handily that it's in a class all by itself and could arguably be compared favorably with non-coal investment opportunities.
Jun 19, 2014
by Peter Epstein
Big 4 Iron Ore Producers: Rationally Oversupplying the Market?
The Big 4 iron ore producers are producing flat out and in fact are growing production this year and next, despite the spot price of iron ore falling by 30% year to date. Is this suicide or a prudent strategy?
Jun 19, 2014
by Peter Epstein
M&A Activity Picking up in Gold Junior Space
Nevada is shaping up to be the go-to jurisdiction in a coming wave of M&A activity among gold juniors. Mid-tier miners and majors alike need to replace mine depletion. If companies are willing to buy assets in Africa, surely they will like what Nevada has to offer.
Dec 11, 2013
by Peter Epstein
Low Interest Rates Could Mean Big Gains for MLPs in 2014
A logical scenario involving a flat stock market next year with continued ultra-low yield opportunities could be a perfect environment for MLPs to flourish. Natural Resource Partners and Alliance Resource Partners are two energy-related MLPs that could materially outperform stocks next year.
Nov 10, 2013
by Peter Epstein
Smart Money Loves Natural Resource Partners
Upon a wide-ranging conversation with a senior executive at Natural Resource Partners, and coal market expert, Steve Doyle of Doyle Trading Consultants, I remain bullish on this master limited partnership's prospects next year and beyond.
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