Whitehaven Shakes Off Softer Coal Prices
Shares in NSW soft coking and thermal coal exporter Whitehaven Coal ended up 5% higher at $3.83 yesterday after the market took its 2018-19 June quarter and full year report to be good news.
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News
Chinese Coal Restrictions Weigh On Whitehaven
China’s continuing restrictions on coal imports - especially thermal (steaming) coal have impacted the quarterly pricing of major NSW miner and exporter Whitehaven Coal, even though it doesn’t ship any coal to that country.
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Material Matters: Platinum, Steel & Miners
A glance through the latest expert views and predictions about commodities. Base metals; platinum; steel/iron ore; and major miners.
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Whitehaven Doubles Down With Second Special Dividend
NSW-based Whitehaven Coal boosted net profit by nearly 30% in the year to June and will reward shareholders with a special dividend. for the second year running.
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Whitehaven Overcomes Coal Port Congestion
Whitehaven Coal topped its full year coal export targets despite port congestion in Newcastle in the final months of 2017-18 which limited sales. But thanks to stronger coal prices, especially for thermal and soft coking coal, the company should report strong earnings next month.
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Analyst Views
WHC – UBS rates the stock as Buy
By FY27 Whitehaven Coal expects to be producing more than 35mtpa of saleable coal through the Vickery and Winchester South projects. Currently production is 20-21mt.
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WHC – Morgans rates the stock as Add
Whitehaven Coal's June Q production beat the broker by 4%, suggesting operational issues appear to be under control, although some sales have shifted in FY20.
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WHC – Deutsche Bank rates the stock as Buy
With the prospect of Adani's Carmichael mine being approved in Queensland, Deutsche Bank believes the market should now be paying for Whitehaven Coal's growth.
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WHC – Deutsche Bank rates the stock as Buy
Deutsche Bank does not believe that there are any major stumbling blocks to the approval of the Vickery expansion project.
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WHC – Morgans rates the stock as Add
The company has downgraded production guidance, which has disappointed Morgans. Nevertheless, despite concerns about Narrabri's complex issues, the broker is comfortable that these appear to be in hand.
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