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Does MM still like Whitehaven coal at $7?

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

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    Question asked

    Does MM still like Whitehaven coal at $7?

    Hi,
    I would like to see any comments on Whitehaven coal, as there was some not long ago.

    Answer

    Hi Jack,

    We still like WHC but we’re conscious of suffering from a degree of “FOMO”, or fear of missing out after we took profit too early in 2022. On Thursday we saw WHC hit an 11-year high, trading above $7 for the first time since 2011. The momentum continues right across the whole coal space and we remain buyers of pullbacks in what can be a very volatile stock & sector:

    • Our ideal buy zone for WHC is ~$6, around $1 below yesterdays high BUT its already corrected by over $1 twice over the last 12-months hence were not “hoping” for something out of the ordinary.
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    Whitehaven Coal (WHC)
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