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ASX investor profile picture
ShareShack user name hidden until logged in December 02
I’ve been keeping an eye on a couple of coal stocks lately and one that really appeals to me at the moment is Whitehave Coal (WHC). The company operates a number of coal mines around Narrabri & Gunnedah and has recently acquired a project from RIO in the Bowen basin. WHC currently produces 20Mtpa of a mixture of thermal and metallurgical coal and is aiming to double that production number over the next 10 years.
Fundamentally, they are very sound with net profits of $525M in FY18 (current PE of 8) which was up from $405M the previous year. Gearing is low at 7% with net debt currently at $270M which is down from over $1B a few years ago. Free cashflow was very strong last year with $593M available after providing for capex of $153M. Total dividends of $0.40/share were paid out in FY18 and this is forecast to increase another 20% in FY19 putting them on a current dividend yield ~10%.
Coal prices have been very strong this year which provides for strong profit margins from established producers like WHC. Their avg realised coal price for the most recent Sept quarter was A$161/t and the avg unit cost of production for FY18 was only A$62/t which provides WHC a nice buffer against any pullback in coal prices going forward.
Technically, WHC have had a good run after bottoming out around $0.50 back in early 2016 and then rising to a high of around $6 at the start of July this year. They have recently pulled back near $4 which should act as a decent support level as indicated on the weekly chart below. Even though the recent decline has been significant, WHC remains in a positive longer term trend. I don’t currently hold WHC shares but did trade it for a nice bounce early last week. I am overweight in CRN though which is a newly listed coal producer with similar fundamental value to WHC.
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ASX investor profile picture
ShareShack user name hidden until logged in August 08
Here's the list of volume spike trades of interest in today's scan (for trading day ending 07-Aug-2018):


Personal disclosure - No direct positions thus far in these companies.
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