WHC has advanced +26% so far in 2026, taking it back toward its 2022 $11 high. The company delivered a solid result in February Here, but we are conscious that the stock is now approaching our medium-term target price as the war creates renewed interest in the sector. With cash generation and buybacks helping underpin the stock, and earnings highly leveraged to rising coal prices, there’s nothing not to like at present; however, as we all know, commodities are cyclical, and when they look their best, it can be time to trim.
- We have been targeting the $10-11 area for WHC over the coming year; it’s knocking on the door now. – MM owns WHC in the Active Growth Portfolio.
MM is now cautiously bullish towards WHC around $9.80
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