ASX:YALOil and Gas
Yancoal Australia (ASX:YAL) Shares Reflect Strong Output And Thin Profit
Yancoal Australia stock closed at A$5.78 after the market absorbed a coal miner that produced strongly yet printed a very thin bottom line. The headline is not the record first half production or A$3.0b revenue. It is the sharp squeeze from A$277m net income in the prior half year period to just A$17m this time, hit by A$272m of largely non operating items.
Investors now have to decide whether this margin pressure justifies the current P/E of 26x, or whether the market is fixated on...