I am holding all my shares for a better price after listening to the conference call. My read is that the analyst asking questions did a terrific job of teasing out management's clearly conservative guidance across the board.
just read through $nc q4 earnings. it's a mixed bag. I would say it falls a bit short of my expectations, but probably ahead of where the market is thinking.
You probably know this but Geoff Gannon has done a ton of work on Nacco in the past. He’s talked about it on his podcast and has wrote it up a couple of times
I think someone mentioned that to me in the past. I just browsed his website. That is way too much obsession over a resource co and reads more like a cautionary tale than anything else, if you ask me.
Keep things simple...especially in the resource sector...
He put half his portfolio in it at the time when it spun off (unless I’m remembering it wrong) so I don’t know if I’d call it an obsession as much as extreme due diligence
Yes I think you're remembering it quite wrong. He wrote the article about putting 50% of his portfolio into it in November 2017, obsessed over it for years then went quiet when it collapsed during 2020 lol. Great cautionary tale against concentrated investing.
I am holding all my shares for a better price after listening to the conference call. My read is that the analyst asking questions did a terrific job of teasing out management's clearly conservative guidance across the board.
just read through $nc q4 earnings. it's a mixed bag. I would say it falls a bit short of my expectations, but probably ahead of where the market is thinking.
pros:
- reaffirmed mitigation resources 2025 profitability guidance
- mining (limestone) going well
- guiding to 2025 operating profit slight increase
cons:
- coal per ton pricing decrease will offset operational improvements
- thacker pass stage 1 pushed back to "late 2027"
- guiding to slight improvement in top of house operating profit
mixed:
- minerals management did end up making an investment in q4 but it came under capex guidance at $15.7mm
i will likely reduce my exposure
You probably know this but Geoff Gannon has done a ton of work on Nacco in the past. He’s talked about it on his podcast and has wrote it up a couple of times
I think someone mentioned that to me in the past. I just browsed his website. That is way too much obsession over a resource co and reads more like a cautionary tale than anything else, if you ask me.
Keep things simple...especially in the resource sector...
He put half his portfolio in it at the time when it spun off (unless I’m remembering it wrong) so I don’t know if I’d call it an obsession as much as extreme due diligence
Yes I think you're remembering it quite wrong. He wrote the article about putting 50% of his portfolio into it in November 2017, obsessed over it for years then went quiet when it collapsed during 2020 lol. Great cautionary tale against concentrated investing.