NHC has been the big winner in the coal space in 2026, gaining +34% even after last week’s sharp pullback as war fears receded. As we saw in February, the company is executing well, having managed to trim capex guidance, adding to underlying cash generation. NHC continues to deliver strong cash generation, fuelling capital returns, which fits the bill to continue holding the stock in our income portfolio.
We have no plans to increase or lighten our exposure, but if we had no position, we would be considering buying/accumulating around $5.
- We can see NHC consolidating between $5 and $5.50 over the coming weeks – MM is long NHC in its Active Income Portfolio.
MM is long and bullish toward NHC around $5.40
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