WHC slipped 4% on Monday, retracing all of the gains enjoyed after Anglo-American suspended operations at its Grosvenor plant in Queensland due to a fire – in hindsight, we may have been too greedy in the short-term. Their quarterly report on Friday attracted some selling, which accelerated on Monday as analysts tweaked their forecasts lower, e.g. Citi by 3.3%, Macquarie by 3%, and UBS by 2.6%. It is frustrating, as we recently discussed taking profit in WHC, but coal was never going to be an easy ride in today’s environmentally focused world.
- We remain bullish on WHC, targeting a test of $10 in the medium term. MM is long WHC in our Active Growth Portfolio.
MM is long and bullish towards WHC
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