21/06/2022 09:21

Whitehaven Coal Ltd (WHC) $4.54

WHC was smacked over 9% yesterday but investors shouldn’t forget that although this is the ASX200’s 2nd strongest stock year to date it’s a volatile beast having already corrected almost 40% on two occasions over the last year. MM doesn’t believe that the energy issues facing both Australia and the world have gone away, but they are currently being overlooked as recession fears escalate, another 7-9% downside and we will find this coal producer very attractive.

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07/06/2022 09:37

Can this year’s worst performers come good in the 2nd half of 2022?

So far 2022 has thrown up a large number of landmines for local investors including 8 members of the ASX200 that have more than halved over the last 6-months with high growth & valuation names dominating the list. History tells us that buying stocks in a strong downtrend is fraught with danger and from a broad-brush perspective, we should look to buy stocks that are rallying, making higher quarterly highs and growing earnings i.e. not a complicated...

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27/05/2022 09:20

Whitehaven Coal Ltd (WHC) $5.04

WHC is now a $5.1bn business having ridden the coal price higher, it has a very similar look and feel to NHC although its ascent has actually been slightly more aggressive. We like the cash-cow into a pullback but wouldn’t be chasing the stock above $5 especially as it could easily be suffering from the  same headwinds as NHC i.e. excessive rain issues and a tight labour market.

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21/04/2022 09:05

Whitehaven Coal (WHC) $4.80

The coal company showed the extent of their commodity price tailwind yesterday saying that net cash as at the 19th of April was $161m even despite buying back $67 million of shares and paying $80 million in dividends in March. The average coal price realised for the quarter was A$315/t, more than triple the price achieved at the same time last year and up from an average of A$204/t in the first half. As we often..

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09/03/2022 10:47

Flagship Growth Portfolio – Amendments

We are making a number of changes in the Flagship Growth Portfolio, effectively reducing exposure to commodities and increasing healthcare.

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09/03/2022 09:23

Flagship Growth Portfolio

The MM Growth Portfolio slipped -0.16% outperforming the market which fell around 1.4%. The solid (relative) week was helped by Whitehaven Coal (WHC) +20.4%, Newcrest (NCM) +9.3% and Santos (STO) +9% while the laggards were Virgin Money (VUK) -16.7%, Qantas (QAN) -12.4% and Aristocrat (ALL) -9.9%.

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08/03/2022 09:43

Whitehaven Coal (WHC) $4.18

WHC has lagged the coal price over many years, not just over the recent few weeks when the commodities surged over 60%. We all know coal is a dirty word and rightly so, it will be phased out over time to reduce our environmental footprint, hence stocks like WHC are trading on very low valuations but things can only stretch so far before value seekers emerge. We had previously been looking for the...

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07/03/2022 17:01

Whitehaven Coal (WHC) $4.18

WHC +4.76%: while the bulk of commodities have been moving higher since the Ukraine conflict started, coal has seen a more leveraged move than most. Whitehaven kicked off their on market buyback with the stock already more than 30% higher than when it was announced at the half year results. Shares have rallied so strongly over the past few sessions that they were unable to buy a share back today...

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03/03/2022 17:05

Whitehaven Coal (WHC) $3.96

WHC +10.61%: Rallied hard today as did the other coal related stocks following a huge spike higher overnight, Newcastle Coal Futures for April +46% in a move that seems a clear anomaly, however those sorts of moves typically play out in a market that is very tight, and getting tighter. While Russia is a key coal supplier (about 15% of European demand), it’s not just a geological issue,  the market was getting squeezed from a bunch of different directions over the past year or so;

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03/03/2022 09:23

Newcastle Coal Futures ($US/MT)

Overnight we saw massive panic in the coal futures market with an overnight +46% pop, hard to imagine under normal circumstances! Russia produces around 15% of both met coal (steel making) and thermal coal (power generation) however it’s not just that region where exports have / will fall. Indonesian exports of coal are down 20% this year while Australian exports are also lower making...

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