Whitehaven (WHC) operations back on track
Whitehaven Coal (WHC) +4.11%: finally saw some love today after being one of the serial underperformers as the market rallied, Whitehaven was bid strongly on the back of an impressive quarterly that saw production hit guidance for the full year. The final quarter of the year saw the Maules Creek mine hit a record and Narrabri finishing the year fast as it sets up for an even better FY21.
It’s been a messy 12 months for the coal miner, after some management changes at the back end of last year, and poor production rates in the March quarter the market was rightfully concerned that the June quarter would also disappoint. Concerns still remain around sales with a number of clients refusing shipments as the COVID shutdown hit demand for coal – stocks jumped 20% on last year. If the rebound in demand for other commodities is anything to go by, thermal coal will soon be back in favour and Whitehaven should start to move higher. Operationally they look in good shape which hasn’t been said of Whitehaven in some time. For those interested, I was also on Ausbiz this morning before market open, and talked about Whitehaven – click here
Whitehaven Coal (WHC) Chart
