How Is Coronado Global Resources (ASX:CRN) Stock Down 9.72% Today?

Sonal Goyal

22 October 2026 05:52 PM AEDT

How Is Coronado Global Resources (ASX:CRN) Stock Down 9.72% Today?

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Key Highlights

Coronado Global Resources (ASX:CRN) shares were down 9.72% at $0.163 during the Trading session on 22 October 2026.
The September 2026 Quarterly Report showed third quarter Earnings of $44M, up from $7M in the prior quarter, and net Debt of $553M.
Revised 2026 guidance cut saleable production to 14.0-14.5Mt and lifted Mining cash costs to $105-110/t.

Coronado Global Resources Inc. (ASX:CRN) shares were down 9.72% at $0.163 during the trading session on 22 October 2026, while the S&P/ASX 200 stood at 8,792.20, down 0.44%, and the All Ordinaries stood at 8,916.20, down 0.45%, at the time of the data. Coronado is a metallurgical coal producer with operations in Australia and the United States. In its quarterly report for September 2026, the company reported third quarter earnings of $44M, revised its 2026 guidance, and set out a reset program at its Curragh complex in Queensland.

About the Company

Coronado Global Resources Inc. has its registered office at Level 33, Central Plaza One, 345 Queen Street, Brisbane, Queensland, and its shares trade on the ASX under the ticker CRN. The company reports its production and financial information on a geographical segment basis and quotes all numbers in U.S. dollars.

Business Overview

Coronado produces and sells metallurgical and thermal coal. Its operations include the Curragh complex in Australia and the Buchanan mine in the United States, while the Logan mine was idled in March 2026 and its divestment was completed in July 2026. The Mammoth underground mine is operated by Mammoth Underground Mine Management Pty Ltd, a Subsidiary of Eclipse Mining Pty Ltd. Metallurgical coal accounted for 77.8% of sales volumes in the September 2026 quarter.

Quarterly Operating and Financial Results

In its September 2026 quarterly report, Coronado reported run-of-mine (ROM) production of 6.0Mt, down 6.7% on the June quarter, and saleable production of 3.4Mt, down 17.3%. Curragh ROM production rose 7.9% to 4.2Mt, the highest quarterly total since the September 2020 quarter. Buchanan ROM output was about 1.8Mt after a geological fault in the southern longwall panel reduced production by about 0.7Mt relative to the June quarter. Sales volumes were 3.6Mt, up 2.3%, with about 630Kt of coal held at port because of congestion.

Coal revenues were about $558M, compared with $506M in the June quarter. The Group realised metallurgical coal price was US$183.5/t, against a PLV HCC index average of US$248.1/t. Available Liquidity rose $57M to $155M, helped by a US$75M Glencore prepayment, and net debt was $553M, compared with $606M at 30 June 2026.

Revised 2026 Guidance and Outlook

The company now expects full-year 2026 saleable production of 14.0Mt to 14.5Mt, compared with the original 16Mt to 17Mt, and average mining cash costs of $105 to $110/t, compared with $88 to $96/t. It attributed the changes to the Buchanan geology, the slower Mammoth ramp-up, slower improvement in Curragh coal handling and preparation plant (CHPP) throughput, a higher Australian dollar and higher diesel prices. Capital Expenditure is expected near the bottom of the unchanged $150M to $175M range.

Coronado does not intend to bypass ROM coal as low-value thermal product and expects to carry about 1.5Mt of ROM stocks into 2027. It indicated that 2027 guidance is expected to reflect 16Mt to 17Mt of saleable production once normalised for the Buchanan and Mammoth factors.

Related Sector Context

Metallurgical coal is used in blast furnace steelmaking, so seaborne prices and volumes are linked to steel Demand and to Supply conditions in producing regions. The company described the September quarter market as shaped by constrained Chinese coal supply, mixed Chinese steel conditions and resilient demand in India. During the 22 October 2026 session the S&P/ASX 200 stood at 8,792.20, down 0.44%, and the All Ordinaries at 8,916.20, down 0.45%, so the broader market was lower at the time of the data.

Risks to Weigh In

Guidance has been revised downward, and the company says the benefits of the reset program are yet to flow fully through to saleable production, earnings and cash generation. Plant performance remains the principal operational constraint at Curragh, and Mammoth's ramp-up remains below expectations because of extensive faulting in two panels. Port congestion delayed shipments linked to about US$50M of revenue. The company also noted that it still has work to do to deleverage its balance sheet, and that the planned November longwall move at Buchanan will affect December quarter production.

Catalysts on Watch

Coronado expects the December quarter to reflect the higher PLV HCC index in the September quarter, a recovery in Buchanan volumes, delayed Curragh shipments and Mammoth improvements, partly offset by the planned November longwall move at Buchanan. The index had moved to US$265/t on 20 October. The company also expects to realise about US$50M of delayed Revenue in the fourth quarter and to publish its SEC Form 10-Q financial statements on 10 November 2026 (AEST).

Putting It Together

Coronado shares were lower during the 22 October 2026 session. Its September 2026 quarterly report combines higher earnings and lower net debt with reduced 2026 production guidance and higher unit cost guidance, leaving the timing of operational improvements and the 2027 guidance as the main variables to track.

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