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Upswing in Whitehaven Coal

Jun 23, 2016 | Team Kalkine
Upswing in Whitehaven Coal

Whitehaven Coal Ltd


WHC Details
  • Delivering high quality coal: Whitehaven Coal Ltd (ASX: WHC) stock surged over 10.34% on June 23, 2016 driven by the recovering commodity prices. The stock fell over 26.71% in last one year but recovered over 41.96% in the last three months (as of June 22, 2016) alone supported by the recovering coal prices. WHC delivered a solid high ROM coal production which rose by 21% to 5.7Mt for March quarter of 2016 against prior corresponding period. The group has been offsetting the falling coal prices by enhancing its production with Coal sales reaching 5.5Mt during March quarter of 2016 which is an increase by 48% on a yoy basis. The group expects its Maules Creek ramp up stage to 10.5Mtpa from January 2017 and on track to achieve a saleable coal in the range of 19.5Mt to 20.1Mt by fiscal year of 2016. WHC is also controlling its costs and for FY2016, they forecast costs to be $57/t. Despite rising demand for renewables energy, coal demand would continue on a long term basis as per International Energy Agency, while the group has lot of demand from countries like India and Japan.
  • Recommendation: We give a “Speculative Buy” on the stock at the current price of $1.12
 

Managed production and sales highlights (Source: Company Reports)

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