Noble Group's Share Dive May Be Overdone, but Lack of Transparency Leaves Risks High; FVE Cut
Noble Group’s share price dived 32% on May 11 following a profit warning just hours ahead of the release of first-quarter results. While the SGD 129.3 million first-quarter net loss was disappointing, what’s probably more damaging to investor confidence is the lack of guidance on the disruptions to the spot coal market, which had been dogging the company’s coal trades since February. We think this could further put off lenders to Noble, and we anticipate even higher debt costs if the company nee...NOBLE GROUP HOLDINGS LIMITED is an investment holding company principally engaged in the provision of energy products and industrial raw materials supply chain management. Together with subsidiaries, the Company operates business of global supply chain manager of energy, power and gas products, metals and carbon steel materials. The Company also engages in the bauxite mining and alumina refining operation in Jamaica.
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