Target $9.36, page-10

First half EPS was 34 cents. Second half will be higher, conservatively I think it may be around 50 cents.
84 cents EPS for the full year.
If we divide the current SP of $4.50 by the full year EPS we get a figure of 5.35, this is the forward P/E ratio

It is possible to reach a $15 SP. My price target is $10 which would give us a P/E of about 11 at the current income/coal price.This is the peak P/E ratio that WHC saw in their last cycle in 2018/2019. However I would reassess my target once the SP gets close to double digits, the factors which govern the future profitability of WHC are dynamic. One thing I am certain of is that the SP will almost double from these levels in the next 18 months. WHC still remains my one and only holding across all my portfolios and I sleep very well.
Good luck all