This predominantly Met Coal miner has bounced almost 70% from its April low, and we believe there’s more to come. The company is delivering operationally and is on track to meet FY25 guidance, positioning it very well if higher prices are sustained, or as we believe likely compounded. The ducks have been aligning for WHC with a $328mn profit for the first half, on depressed prices, a $72 million buyback and even Australian Super appeared on the register, a move the superannuation giant insists is consistent with its commitment to net-zero emissions by 2050. WHC has positioned itself perfectly for when the coal price recovers, having evolved the business to primarily focus on coking coal mining following the acquisition of Daunia and Blackwater, and at this stage, we have no intention of grabbing the early profits on offer.
- We eventually target a retest of the $9 area through 2025/6. MM holds WHC in the Active Growth Portfolio.
MM is long and bullish towards WHC
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