Rhino Resource Partners (NYSE:RNO) is a limited partnership which operates coal mines. The company primarily makes money by selling its coal to utility companies which burn in their steam generators to make electricity. The company also sells its coal as metallurgical coal.[1] This type of coal is used as an additive to make steel. Rhino Resource operates primarily in Appalachia, the Illinois Basin, and the Western Bituminous region. The company controls approximately 285.4M tons of proven or provable coal reserves.[2]

The company's initial public offering of stock on the NYSE and occurred on September 29, 2010. Its initial price range was $19-$21, and the stock priced within the range at $20.50. The company sold 3.24M shares and raised $67M. The lead underwriters of the deal were Raymond James Financial (RJF), Royal Bank Of Canada (RY), and Stifel Nicolaus Weisel.[3]

The company's 2009 revenue was $420M, which was a 4% decrease from its 2008 revenue of $439. The company's net income rose however during this period from $929K to $19.5M. This corresponds to a nearly 2,000% year over year increase in net income. However, this rise in net income is primarily due to a drop in freight and handling costs.[4] These costs fell because of a decrease in the cost of fuel and new contracts which are far more favorable for Rhino.[5]


  1. RNO S-1/A 2010 "Rhino Resource Partners LP" pg 1
  2. RNO S-1/A 2010 "Our Properties" pg 2
  3. Renaissance Capital - IPO "RHino Resource prices IPO at $20.50, within the range" 29 Sept 2010
  4. RNO S-1/A 2010 "Summary Historical Consolidated and Condensed Consolidated and Pro Forma Condensed Consolidated Financial and Operating Data" pg 19
  5. RNO S-1/A 2010 "Freight and Handling" pg 112
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki