What Matters Today: Have we seen the worst for Coal Stocks?

When we consider the unpopular Coal Sector we cannot ignore the cash it’s generating compared to current valuations e.g. WHC only has a market cap of $5.85bn yet it has $2.7bn net cash and still produced $435m free cash flow in the June quarter with lower coal prices, enabling it to maintain its buyback strategy and pickup other assets that come onto the market at good prices. In our opinion, the sector is simply too cheap given the long lead time associated with the energy transition.

scroll

OPINION
ACTION

Latest Reports

Afternoon report 03/11/2025 17:11

The Match Out: ASX edges higher, Westpac reports & rallies

The ASX finished mildly higher on the first trading day of November, largely underpinned by a solid day for the banks with the big 4 contributing +36pts to the main boards gain as Westpac reported FY results and rallied – more on their result below.

Morning report 03/11/2025 09:52

Macro Monday: Have Central Banks & inflation changed the market dynamic?

Wall Street ended October on a strong note, with AI enthusiasm, solid corporate earnings, and looser financial conditions propelling equities to a sixth straight month of gains, while credit markets marked their third consecutive advance.

Weekend report 01/11/2025 09:49

Weekend Q&A: With a rate cut off the table, the ASX has lost a major tailwind

The ASX200 ended the week down -1.5% as rate-sensitive stocks weighed on the market following Australia's hotter than expected CPI and Jerome Powell's message that another Fed rate cut in December was no foregone conclusion. Another strong week by uranium and copper names did little to dent the selling across the healthcare, tech, real estate and retail sectors, with some big and influential names front and centre, dragging the index back under the 8900 level, even as US indices continued to post fresh highs:

Afternoon report 31/10/2025 17:09

The Match Out: ASX rallies early, closes in negative territory

The ASX was a story of two tales today, with early gains driven by gold miners and the major banks as global risk sentiment improved following progress in US–China trade talks.

Alerts 31/10/2025 09:56

Trade Alert – Emerging Companies Portfolio

We are making two changes to the Emerging Companies Portfolio

Morning report 31/10/2025 09:48

ETF Friday: Three ETFs that could benefit from higher bond yields/interest rates

The ASX 200 slipped 0.5% on the penultimate day of October, as strength across lithium, copper, and uranium names failed to offset another weak session for rate-sensitive sectors. Consumer discretionary (-4.2%) and real estate (-2.7%) led the declines, with notable heavyweights Wesfarmers (WES) -7.1% and JB Hi-Fi (JBH) -4.5% dragging the index lower.

Afternoon report 30/10/2025 17:51

The Match Out: Rate sensitive stocks hit, MinRes (MIN) turns the corner

The ASX extended its losses on Thursday, as investors continued to digest hotter-than-expected local inflation data and a more cautious tone from US Fed Chair Jerome Powell overnight

Alerts 30/10/2025 10:05

Trade Alert – Active Growth Portfolio

We are selling a property holding

Morning report 30/10/2025 09:58

What Matters Today: Is it time to “tweak” portfolios as hopes of RBA rate cuts fade

The ASX200 finished 1% lower on Wednesday after a hot CPI print dashed hopes of an interest rate cut into Christmas - by the end of the day, futures markets were pricing in a 20% chance of some Christmas joy for mortgage holders and arguably more telling, only one cut at most by next Christmas! Michele Bullock has been warning markets to be conservative with their dovish forecasts, and it's her crystal ball that’s now looking the clearest.

Afternoon report 29/10/2025 17:30

The Match Out: ASX falls on hotter inflation data, Uranium stocks surge

Australian equities sold off sharply after a red-hot Q3 inflation print forced investors to abandon any near-term easing hopes. Core CPI, the RBA’s preferred gauge, jumped 1.0% QoQ (vs 0.8% expected & 0.6% RBA forecast).