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Does MM like coal stocks as they start to bounce?

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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 09/06/2023

Does MM like coal stocks as they start to bounce?

Hi James , With yesterdays rise in WHC /NHC and Newcastle Coal looking for a bottom . What are your views, have we seen a bottom? or was this pump just another Dead Cat bounce? Cheers Craig

Answer

Hi Craig,

Coal is a hot topic at present – excuse the pun! MM is long both New Hope (NHC) and Whitehaven Coal (WHC) in our Active Income & Flagship Growth Portfolios respectively and if we had no position we would be happy buyers of both here and now.

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Whitehaven Coal Ltd (WHC)

LAST UPDATED 09/06/2023 12:05

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