scroll

Current view on Worley (ASX: WOR), Whitehaven (ASX: WHC), Sandfire (ASX: SFR) and Mirvac (ASX: MGR)

Advanced Search

Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

Ask a question

The Latest Q&A

Question asked 17/07/2026

Current view on Worley (ASX: WOR), Whitehaven (ASX: WHC), Sandfire (ASX: SFR) and Mirvac (ASX: MGR)

Hi guys, would love to know your current view on a few positions in the growth portfolio - how you feel about how the buying thesis is playing out, your current levels of 'comfort' in these positions, I note they are all marked active, so would MM be buyers at these levels if you weren't in them already. Has anything changed? More conviction about some of theses? The positions are: WOR, WHC, SFR and MGR. Thanks so much for your analysis.

Answer

Hi Josh,

A few stocks here hence excuse the succinct reply to each, interestingly a mixed bunch from a performance perspective, usually we get asked about our winners or losers!

Whitehaven Coal (WHC) – coal miner WHC has experienced a volatile 2026 trading in a ~36% range hitting $9.90 in April as the US and Israel attacked Iran – in hindsight a great time to have taken some profit. However, we remain positive towards coal over the coming few years as increasing AI energy demands look likely to need “old fuel” sources for a while yet, i.e. we would still be comfortable buyers today below $8, despite our ~16% paper profit, targeting the $10-11 are in the coming years.
Sandfire Resources (SFR) – Probably the easiest of the bunch after we touched on copper and related stocks in Wednesday’s report. We continue to look for new highs from copper and SFR in the coming year, targeting a break above $22, or 15-20% higher, i.e. we would still be comfortable buyers today despite our ~115% paper profit.
Mirvac (MGR) – in hindsight we’ve bought back into MGR a tad too early with our position showing a ~7% paper loss but we continue to believe the market is too hawkish with the RBA unlikely to hike again before Christmas which should theoretically help the property sector despite the markets post-budget concerns, i.e. we would still be comfortable buyers today around 1.70.
Worley Ltd (WOR) – a frustrating position in the MM Growth portfolio, showing a more than 20% paper loss despite a number of its peers enjoying a stellar 12-months. WOR has been a loser from the Middle East conflict, but we continue to view the issues as largely cyclical/timing related rather than structural, i.e. we are happy to hold below $11 but of the 4 its our least preferred at current levels.

chart

Worley (WOR), Whitehaven (WHC), Sandfire (SFR) and Mirvac (MGR)

LAST UPDATED 15/07/2026 11:47

Latest Reports

Afternoon report 17/07/2026

The Match Out: Resources hit as ASX ends down for the week

The ASX was lower today with a sharp sell-off across gold, copper and lithium stocks overwhelming solid gains in energy, utilities and communications. The index recovered from its session low but still ended the week marginally lower as renewed fighting in the Middle East, rising oil prices and the prospect of higher-for-longer interest rates weighed on risk appetite.

Morning report 17/07/2026

ETF Friday: Assessing 3 ETFs that are experiencing noticeable outflows this week

July has seen a tale of two halves for ETF flows: The month began with a sharp risk-off rotation as investors cut exposure to technology and AI, with the Nasdaq tracking QQQ losing ~US$11.5bn over four consecutive sessions, the S&P 500 tracking IVV shedding ~US$1.7bn, and software ETFs also suffering heavy redemptions. The standout exception was semiconductors, where SOXX attracted a record US$3.4bn in the week to 10 July, while US-listed ETFs remain on track for a record US$2tn of inflows in 2026.