19/04/2024 16:46

Whitehaven (WHC) $7.88

WHC unch: the coal stock chopped around today, surging on the open but trading as low as -1.78% during the session before steadying around par. The 3Q production update was mixed. Run of mine (ROM) at 4.4mt was down 13% on 2Q, though this was in line with expectations and is still tracking well ahead of FY23.

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18/04/2024 09:03

Whitehaven Coal Ltd (WHC) $7.80

Coal miner WHC rallied +2% on Wednesday, making a new 10-week high in the process. We have been almost stubbornly bullish on WHC over the last year, but its fortunes are turning, and a test of its 2024 high is starting to feel like a matter of time. Remember last week, influential broker UBS significantly upgraded the miner, increasing their price target from $6.30 to $8.70; it's not often you see an almost 40% upgrade without left-field news.

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10/04/2024 09:27

Whitehaven Coal Ltd (WHC) $7.36

WHC enjoyed a strong Tuesday, gaining +4.8% after influential broker UBS significantly upgraded the stock, with their price target increasing a whopping 38%, from $6.30 to $8.70. The crux of their upgrade was a bullish update towards metallurgical (Met) coal used in steel production, courtesy of good old-fashioned supply and demand dynamics. They believe supply constraints from Australia will keep the market in a structural deficit. At the same time, demand from India is set to accelerate over the medium-longer term, a very bullish one-two. Also, China's economy is showing signs of improvement, which is also likely to have a major impact on prices, with the world's second-largest economy being both the biggest producer and consumer of coal in the world, plus it’s the largest user of coal-derived electricity.

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20/02/2024 09:35

Whitehaven Coal Ltd (WHC) $6.95

WHC is evolving its business, away from primarily thermal coal used in power generation which has historically accounted for the bulk of their revenues,  to a more balanced operation where metallurgical coal used in steelmaking will become the primary driver of revenue, accounting for around 70% of sales after last year's $6.4 billion agreement to buy BHP's Blackwater and Daunia mines

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15/02/2024 16:47

Whitehaven Coal (WHC) $7.08

WHC -5.73%: 1H24 was always going to be a reality check relative to this time last year given the fall in the coal price, however, throw in a large acquisition that is looking to complete in April and safe to say, MD Paul Flynn had a lot on his plate this half.

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19/01/2024 16:38

Whitehaven Coal (WHC) $8.11

WHC +3.84%: hit ~11 month highs today on the back of a reasonable 2Q production report. The company managed 3.89Mt in coal sales in the quarter, up 17% from 1Q and marginally higher than the same period in the prior year. Pries were ~5% lower vs 1Q on average with some weakness across coal markets despite commentary that demand has remained resilient.

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22/12/2023 09:01

Whitehaven Coal Ltd (WHC) $7.29

WHC has traded sideways through 2023, albeit in a reasonably volatile manner; not a great result, but the stock has paid out 74c in fully franked dividends. We continue to like coal stocks over the coming years, believing markets underestimating how long the world will need fossil fuels before achieving the full clean energy transition.

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19/12/2023 09:20

Whitehaven Coal Ltd (WHC) $7.22

Coal miner WHC has experienced an extremely volatile few years, with 2023 relatively quiet after its 1Q re-rating on the downside. The stock looks poised to pop back above $8 when we see a glimmer of optimism in the underlying coal price but it's still off the menu for many investors due it's “dirty energy” profile.

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20/10/2023 09:22

Whitehaven Coal (WHC) $7.48

At midday on Thursday, the AFR ran a story that Jefferies trading desk had sold a parcel of 21mn WHC shares, or $157.5mn, post the purchase of the Daunia & Blackwater met coal mines in QLD from BHP Mitsubishi Alliance (BMA) – about 2.5% of the company. London-based hedge fund Bell Rock is touted as the seller after the miner ignored its wishes and went ahead with its growth strategy as opposed to ongoing dividends and buy-backs preferred by the activist investor. Either way, we felt the market absorbed the sale in a very encouraging fashion.

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18/10/2023 16:43

Whitehaven Coal (WHC) $7.57

WHC +11.49%: Announced the purchase of the Daunia & Blackwater met coal mines in QLD from BHP Mitsubishi Alliance (BMA) with some important points to make on this large, and very strategic acquisition, which we think will prove a good one.

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