Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Alpha Metallurgical Resources / Equity Bottom-Up

<ul><li>Alpha Metallurgical Resources reported its financial results for the second quarter of 2024, delivering a performance that reflects both the resilience and challenges faced by the metallurgical coal industry.</li><li>The company announced an adjusted EBITDA of $116 million and total shipments of 4.6 million tons during the quarter.</li><li>Despite a decrease in adjusted EBITDA from $190 million in the previous quarter, the figures indicate strategic navigation through prevailing tough market conditions, characterized by weakened steel demand and subsequent impact on metallurgical coal markets.</li></ul>

Alpha Metallurgical Resources reported its financial results for the second quarter of 2024, delivering a performance that reflects both the resilience and challenges faced by the metallurgical coal industry.The company announced an adjusted EBITDA of $116 million and total shipments of 4.6 million tons during the quarter.Despite a decrease in adjusted EBITDA from $190 million in the previous quarter, the figures indicate strategic navigation through prevailing tough market conditions, characterized by weakened steel demand and subsequent impact on metallurgical coal markets.

Alpha Metallurgical Resources: Dealing With Supply Chain Vulnerability. Fluctuating Market Demand & Pricing Instability! - Major Drivers

<ul><li>Alpha Metallurgical Resources recently disclosed its financial results for the first quarter of 2024, presenting mixed outcomes amidst challenging market conditions.</li><li>The company announced an adjusted EBITDA of $190 million, a decline from the $266 million recorded in the previous quarter, citing the softening metallurgical coal market which deteriorated further after the quarter ended, setting a challenging environment for the upcoming quarter.</li><li>Despite these complex market dynamics, Alpha Metallurgical Resources remains committed to maintaining operational excellence and cost-efficient practices.</li></ul>

Alpha Metallurgical Resources recently disclosed its financial results for the first quarter of 2024, presenting mixed outcomes amidst challenging market conditions.The company announced an adjusted EBITDA of $190 million, a decline from the $266 million recorded in the previous quarter, citing the softening metallurgical coal market which deteriorated further after the quarter ended, setting a challenging environment for the upcoming quarter.Despite these complex market dynamics, Alpha Metallurgical Resources remains committed to maintaining operational excellence and cost-efficient practices.

Alpha Metallurgical Resources: These Are The 4 Pivotal Factors Driving Its Performance In 2024 & 2025! - Financial Forecasts

<ul><li>Alpha Metallurgical Resources, a supplier of metallurgical products for the steel industry, closed its fourth quarter with adjusted EBITDA of $266 million and achieved over $1 billion in adjusted EBITDA for the year.</li><li>This is the second consecutive year in which the company attained such a milestone despite facing considerable challenges during the year.</li><li>Alpha highlighted the robustness of its management approach which included proactive identification of issues and proactive response plans that ensured minimal impact on performance.</li></ul>

Alpha Metallurgical Resources, a supplier of metallurgical products for the steel industry, closed its fourth quarter with adjusted EBITDA of $266 million and achieved over $1 billion in adjusted EBITDA for the year.This is the second consecutive year in which the company attained such a milestone despite facing considerable challenges during the year.Alpha highlighted the robustness of its management approach which included proactive identification of issues and proactive response plans that ensured minimal impact on performance.

Alpha Metallurgical Resources Inc.: Initiation Of Coverage - What Are The Geopolitical Factors Influencing Coal Markets? - Major Drivers

Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

<ul>
<li>Following our piece, <a href="https://www.smartkarma.com/insights/fushan-energy-639-hk-coking-coal-prices-to-strengthen-with-anglo-accident" target="_blank" data-smartkarma-citation="insights:150683" rel="noopener">Fushan Energy (639 HK): Coking Coal Prices To Strengthen With Anglo Accident</a>, we highlight <a href="https://www.smartkarma.com/entities/mongolian-mining-corp" target="_blank" data-smartkarma-citation="entities:4382:1" rel="noopener">Mongolian Mining (975 HK)</a> as another play with growth potential. </li>
<li>With a market capitalization of 1.1 bn USD, it trades at 5.3x PE, trailing, and with <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0221/2024022100574.pdf" target="_blank" rel="noopener">the sale of 20% of its subsidiary KEX</a>, it is net cash. </li>
<li>Potential catalysts include the payment of a first dividend once it has redeemed the perpetual notes and the commencement of its <a href="https://erdene.com/site/assets/files/4243/erd_q3_2024.pdf" target="_blank" rel="noopener">highly accretive gold project in 2025 in Mongolia</a>. </li>
</ul>


Following our piece, Fushan Energy (639 HK): Coking Coal Prices To Strengthen With Anglo Accident, we highlight Mongolian Mining (975 HK) as another play with growth potential. 
With a market capitalization of 1.1 bn USD, it trades at 5.3x PE, trailing, and with the sale of 20% of its subsidiary KEX, it is net cash. 
Potential catalysts include the payment of a first dividend once it has redeemed the perpetual notes and the commencement of its highly accretive gold project in 2025 in Mongolia. 


Mongolia Mining Corp (975 HK): Play on Coking Coal Price With Growth Optionality

Breaking Down the Mining News of the Day, Money of Mine

Money of Mine

Breaking Down the Mining News of the Day

An ex-underground miner, an ex-investment banker, and an ex-equity research guy breaking down the mining news of the day. It's a bit of entertainment, information, and occasionally some alpha.

Commodities

<ul><li>Recent changes in Canada's M&amp;A rules have restricted critical metal companies from selling to Chinese investors</li><li>Chinese investors have played a key role in funding the exploration and development of copper porphyries, which are vital for global production</li><li>The uncertainty caused by these rules may lead companies to relocate outside of Canada, potentially harming the country's mining industry and economy</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Recent changes in Canada's M&amp;A rules have restricted critical metal companies from selling to Chinese investorsChinese investors have played a key role in funding the exploration and development of copper porphyries, which are vital for global productionThe uncertainty caused by these rules may lead companies to relocate outside of Canada, potentially harming the country's mining industry and economyThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Warren Irwin on Uranium, Canada & Contrarian Opportunities

United States

Alpha Metallurgical Resources, Inc. provides mining services. The Company mines and supplies metallurgical products to the steel industry. Alpha Metallurgical Resources serves customers globally.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Alpha Metallurgical Resources (AMR US)

Alpha Metallurgical Resources: Dealing With Supply Chain Vulnerability. Fluctuating Market Demand & Pricing Instability! - Major Drivers

Alpha Metallurgical Resources reported its financial results for the second quarter of 2024, delivering a performance that reflects both the...

Baptista Research

Alpha Metallurgical Resources: These Are The 4 Pivotal Factors Driving Its Performance In 2024 & 2025! - Financial Forecasts

Alpha Metallurgical Resources recently disclosed its financial results for the first quarter of 2024, presenting mixed outcomes amidst challenging...

Baptista Research

Alpha Metallurgical Resources Inc.: Initiation Of Coverage - What Are The Geopolitical Factors Influencing Coal Markets? - Major Drivers

Alpha Metallurgical Resources, a supplier of metallurgical products for the steel industry, closed its fourth quarter with adjusted EBITDA of $266...

Baptista Research

Mongolia Mining Corp (975 HK): Play on Coking Coal Price With Growth Optionality

The company has recently released its H1 FY24, which was in line with expectations as revenues/profits were up 5%/-3% YoY. The most important...

Sameer Taneja

Warren Irwin on Uranium, Canada & Contrarian Opportunities

Overall, the global outlook for the natural resource industry, particularly in Canada, is being impacted by resource nationalism and M&A rules

Money of Mine

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)