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Company Research

An ESG inversion in coal equity

Commodity Intelligence

Amidst the recent market freefall and chaos there is an anomaly… Coal India. The unloved, long-ignored stock has risen over 16% over a period when others have seen their value halved, leading Mark Latham to comment on an amusing ESG inversion in coal equity: Coal India is trading at 7x EPS, Adaro 6x EPS, Whitehaven 4x EPS and Peabody at 3x EPS. In other words, the more pronounced the ESG narrative, the lower the PE!

Edition: 131

- 18 March, 2022