NHC rallied over 4% yesterday in a subdued market making it the 4th best performer on the ASX200, the reason was simple, coal is rallying towards fresh 2022 highs following a recent International Energy Report which forecasted the fossil fuel would enjoy ongoing record demand due to the painful energy crisis. While they didn’t flag huge increases in demand it’s important to remember that coal stocks are currently high yielding and cheap being priced for lower, not higher coal prices.
- We are long NHC in our Income Portfolio, from a sheer upside price perspective we are still targeting new highs above $7.50.
MM remains long and bullish NHC
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