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Is it a good entry here...? I just saw the list of institutional investors as of 12/31/2018 and look very impressive.. are they still in?
Look at her percentage. What you write is miles away what really happen. I saw so many article which were written so that you tell ppl your mind but not disturb rights. Prices fall massively and days later there was the rebound. She know only that she has a *ussy
Nope, I don't trust any mainstream news
I guess the news needs to be released on Fox News for you to believe it... Bias much?
And Trump colluded with the Russians - Company could have leaked this to WSJ to pressure a deal or something, who knows . . .
All I know is there was another forbearance today, third one.
She is well connected and her focus is on BK's... https://www.wsj.com/news/author/soma-biswas
now see class if we use our brains something tells me they keep extending it for a REASON. Billionaire swarming around HQ, paid bond holders....HMMMMM I wonder why....maybe because there is a deal on the table and they keep extending it to close the terms
That's still showing 54M out of 76M being held by institutional holders . . . .
Strange - WSJ yes, but who was her source?? Most people I read are discrediting this, but who knows, it could have been a leak....
Um, NO. They closed their position on April 10th. https://fintel.io/so/us/cld.
Get your facts straight. Nobody knows what's going on here. False hope helps no one.
LMAO. Wow - Dow Jones?!? I always believe their reporting. We literally just had another forbearance signed.
Already addressed that.. No need to continue the discussion further. I will sit back and wait, meaning I will hold off on posting more since there is no reason to beat a dead horse. GL
The forbearance extensions are just a formality of note holders showing good faith prior to BK.
The news was from DOW JONES NEWSWIRE!
Item 1.01 Entry into a Material Definitive Agreement.
As previously disclosed, Cloud Peak Energy Resources LLC (“CPE Resources”), a wholly owned subsidiary of Cloud Peak Energy Inc. (“CPE,” the “Company,” “we” or “our”), elected not to make an interest payment under its 6.375% senior notes due 2024 (the “2024 Notes”) of approximately $1.8 million, which was due on March 15, 2019. The indenture governing the 2024 Notes (the “2024 Notes Indenture”) provided a 30-day grace period that extended the last day to make the interest payment to April 14, 2019 before an event of default would occur under the 2024 Notes Indenture. As a result of CPE Resources’ decision not to make the interest payment by April 14, 2019, an event of default occurred under the 2024 Notes Indenture. This event of default allows the trustee or the holders of at least 25% of principal amount of the 2024 Notes to accelerate maturity of the principal, plus any accrued and unpaid interest, on the 2024 Notes. In the event of acceleration, we do not have adequate liquidity to repay the principal balance. On April 15, 2019, CPE Resources entered into a Forbearance Agreement (the “2024 Notes Forbearance Agreement”) with CPE, Cloud Peak Finance Corp. and Nomura Corporate Research and Asset Management Inc. (“Nomura”), which provided that Nomura, an investment advisor for the holders or beneficial owners of a majority (but less than 75%) of the 2024 Notes outstanding, would not enforce any of its rights and remedies available under the 2024 Notes Indenture as a result of the event of default caused by the continued non-payment of interest under the 2024 Notes until the earlier of (i) May 1, 2019 and (ii) two business days following written notice from Nomura of any breach of the 2024 Notes Forbearance Agreement. As previously disclosed, the parties entered into a letter agreement, dated as of April 30, 2019, which extended the May 1, 2019 termination date to May 7, 2019. On May 7, 2019, the parties entered into a second letter agreement (the “Second Letter Agreement”) amending the 2024 Notes Forbearance Agreement, which further extended the termination date to May 10, 2019.
Don't see any proof of that, we just had a forbearance signed up this morning, which is lasting through Friday, so doesn't seem like BK this week.
No other news outlets picked that up:
https://www.otcmarkets.com/filing/html?id=13412278&guid=pjRyU6qJChvfNth
Cloud Peak Plans Bankruptcy Filing in Delaware -- Sources
4:21 pm ET May 7, 2019 (Dow Jones) Print
By Soma Biswas
Coal mining company Cloud Peak Energy Inc. is planning to file for bankruptcy in Delaware this week, according to people familiar with the matter.
The Gillette, Wyo., company failed to make two interest payments on two separate notes and entered into a forbearance agreement with a bondholder group that was extended to May 7. The company also has warned previously that a bankruptcy filing was possible.
After missing a $1.8 million coupon payment on March 15, and starting talks with a bondholder group, Cloud Peak also elected not to make a payment of more than $17 million on May 1, according to regulatory filings.
The company, which has faced lower demand for its coal in recent years, slashed its 2019 estimates for earnings and cash flow.
Cloud Peak is the latest in a series of thermal coal producers, which mine coal used by power plants, to file for bankruptcy or begin restructuring talks with creditors.
The expected chapter 11 filing will come weeks after Westmoreland Coal Co., a thermal coal producer, emerged from bankruptcy protection. Another bankrupt mining company, Kingsport, Tenn.-based Mission Coal Co., recently sold two of its mines to Murray Energy Corp.
Cloud Peak hired a number of restructuring advisers last year, including law firm Vinson & Elkins LLP and investment bank Centerview Partners. Another mining company, privately owned Blackhawk Mining LLC, recently also hired Centerview and has started restructuring talks with its lenders, according to people familiar with the matter.
Debtwire first reported the news of talks between Blackhawk Mining and its lenders.
Murray Energy, controlled by Robert Murray, a vocal proponent of the coal industry, restructured its debt stack last year, pushing out the repayment date on $2.7 billion in debt to 2021 and beyond.
Neither Cloud Peak nor Blackhawk Mining returned calls for comment.
Write to Soma Biswas at soma.biswas@wsj.com
(END) Dow Jones Newswires
May 07, 2019 16:21 ET (20:21 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
That's for the 2024 notes, not the 2020 notes. They extended the 2020 note % payment to May 31st, but yet only extended the 2024 note % payment to May 10th... Note holders are starting to cat fight over getting paid. Cross default approaching fast!
They just signed another forbearance with their Lenders.
https://www.streetinsider.com/SEC+Filings/Form+8-K+CLOUD+PEAK+ENERGY+INC.+For%3A+May+07/15468738.html
Your news is from January 7th....ALOT has changed since then. JMO
8-K FILED: Cloud Peak enters into THIRD forbearance with Lenders, this time until May 10.
Why keep extending forbearance? HMMMMM
https://www.streetinsider.com/SEC+Filings/Form+8-K+CLOUD+PEAK+ENERGY+INC.+For%3A+May+07/15468738.html
The data is not up to date from the last quarter of 2018
Huge news. .25 cent Minimum from Zacks. and increase from Hedgefund insider buys
https://www.fidaily.com/2019/05/05/cloud-peak-energy-inc-cld-stake-lifted-by-blackrock-inc.html
Separately, Zacks Investment Research raised Cloud Peak Energy from a “hold” rating to a “buy” rating and set a $0.25 price objective for the company in a research report on Monday, January 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $2.25.
Shares of CLD stock opened at $0.06 on Friday. The firm has a market capitalization of $4.82 million, a P/E ratio of -0.15 and a beta of 2.66. Cloud Peak Energy Inc. has a one year low of $0.16 and a one year high of $4.10. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.05 and a quick ratio of 1.46.
BlackRock Inc. grew its holdings in Cloud Peak Energy Inc. (NYSE:CLD) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,583,555 shares of the mining company’s stock after acquiring an additional 198,804 shares during the quarter. BlackRock Inc. owned 13.97% of Cloud Peak Energy worth $3,877,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of Cloud Peak Energy by 4.6% in the third quarter. Bank of New York Mellon Corp now owns 2,171,763 shares of the mining company’s stock valued at $4,995,000 after acquiring an additional 95,543 shares during the period. Acadian Asset Management LLC boosted its position in shares of Cloud Peak Energy by 115.7% in the fourth quarter. Acadian Asset Management LLC now owns 359,133 shares of the mining company’s stock valued at $131,000 after acquiring an additional 192,665 shares during the period. Vanguard Group Inc boosted its position in shares of Cloud Peak Energy by 1.3% in the third quarter. Vanguard Group Inc now owns 4,698,036 shares of the mining company’s stock valued at $10,805,000 after acquiring an additional 58,484 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Cloud Peak Energy in the fourth quarter valued at approximately $53,000. Finally, Vanguard Group Inc. boosted its position in shares of Cloud Peak Energy by 1.3% in the third quarter. Vanguard Group Inc. now owns 4,698,036 shares of the mining company’s stock valued at $10,805,000 after acquiring an additional 58,484 shares during the period. 77.19% of the stock is owned by institutional investors
Potential monster run here! $$$
Wlbaq is another coal stock company that went through same problem but smaller company and is on the up and up
That’s what I’m hoping for
Even if they do file BK, could get a nice pop. Same thing happened with Sears and a ton of other BK.
Yes I agree that this might be going bankrupt . GM and recently sears and PCG have almost went bankrupt too!! But didn’t!!I bought PCG at 5$ a share and now it is over 20. It was a gamble and I have also loss money. This is differently not a guarantee money making stock but I have never seen one of those. Do you even know the name of the coal mines that this company owns and how much they produce?
Because they might not file for BK, they keep getting extensions from their Lenders, might be a deal getting cut
Why would someone that's short cover before the Company most likely claims BK? If I were short I'd let it go as low as possible.
I'm fully aware that CLDP is a coal Company and that its on the brink of BK.
I think there will be heavy short covering b4 the 30th
I agree, but I feel like this is going to keep going up. At this price I feel like it is still a steal bought 10k early
That’s what I was thinking you were talking about. Those are oil companies, Cloud Peak is a coal company. Oil drill companies are a dime a dozen. There are only a few coal producing companies and this is the biggest company with the cleanest burning coal. Biggest reason for financial problems was some bad luck with weather and few other things. In the mid west we still use coal for primary sources of heat
Can the MM let anything stay up?? Christ - they dropped us back down 2 cents on nothing
Also most cleanest coal in county.
Coal producing company has nothing to do with drilling oil
My bother in-law works for this company in Gillette Wyoming. I’m from Sheridan Wyoming. No doubt this is a legit company that has financial problems but also has a lot of money tied up in assets. Both the lender and the company doesn’t want this company to file bankruptcy. If you like to gamble on stocks this one is a great on to take a chance on. Especially at this price!!! This isn’t a HMNY or some bogus marijuana stock
What other shale play stocks???
If you look at other shale play stocks you will see that they have all crashed hard if they were located across the US plains, because it ended up not producing as they thought it would....thus the financial hardships.
A cautionary tale for investors lured by promising wells in emerging shale basins across the U.S. Wall Street rushed to fund shale producers, helping them raise record levels of debt and equity over the last six years. But many have failed to generate returns, and new investment has dwindled. Shale companies raised about $23 billion last year, compared with $56 billion in equity and debt in 2016.
Thanks for the reply. I think that is not so much. Only 1,8 mil and 17 mil? That’s possible in my view. And the business is Running, contracts are made. So why not?
Look up Tom Clarke on internet. The problem with this company is it is a union company and has to pay employees a lot with benefits. Tom Clarke wants to buy this company with a agreement that the union goes away. It will aleast save the employees their job in this small town and allow the company to be more profitable. EMO
I can see this going to a dollar if he buys it. Why else would they keep pushing the bankruptcy back. No one wants to see that happen
They need to magically come up with the $ to pay the % on the notes or they will default and therefore have no choice left but to seek bankruptcy protection.
Sorry for question, but what it mean exactly in other words. Sorry but my English isn’t good.
Only thing that happened here is that they got an extension to pay the % on the debt they have been having to skip due to having no $. They have until the end of the month. JMO
As previously disclosed, CPE Resources has an interest payment obligation under the 2021 Notes of approximately $17.4 million, which was due on May 1, 2019. CPE Resources elected not to make such interest payment on May 1, 2019. The indenture governing the 2021 Notes (the “2021 Notes Indenture”) provides a 30-day grace period that extends the latest date for making this interest payment to May 31, 2019, before an event of default occurs under the 2021 Notes Indenture. If CPE Resources does not make this interest payment by May 31, 2019, an event of default would occur under the 2021 Notes Indenture, which would give the trustee or the holders of at least 25% of principal amount of the 2021 Notes the option to accelerate maturity of the principal, plus any accrued and unpaid interest, on the 2021 Notes. An event of default under the 2021 Notes for failure to pay interest would not result in a default under the 2024 Notes unless the 2021 Notes were accelerated. An event of default under the 2021 Notes for failure to pay interest, at the end of the grace period, would result in a cross-default under our A/R Securitization Program and permit the lender to terminate the A/R Securitization Program. In the event of a default and acceleration, we do not have adequate liquidity to repay the principal balance.
bought 400k shares to start. Should go a LOT higher.
Looks like someone knows something . . . .
Where did you see Tom Clarke looking around? His bid for Westmoreland fell through, wonder if he's considering a buyout here?
Current market cap is $5M, wouldn't be a bad play here . . .
Yeah no kidding, a $5M market cap, for a company that hasn't even gone BK yet, and has $293M in positive shareholders equity. I'm still pretty sure that institutional ownership is in the range of 50M or more of the 75M OS, at least per most recent SEC filings.
I'm in at current levels.
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