Agreed
There is no need to sell this stock for a few years. It probably will never get rerated beyond 5 PE( Macquarie have it a 2), which is why the best thing the company can do is buy backs. I assume there is a cap on what the constitution allows for buy back.
Even if the company buys back another 10% that softens the pressure of the a coal price dropping effecting the share price.
Simple example if we make 4B on 100 M shares 4..00 per share
If we make 3B on 900 per share = $3.3 per share
If we make 4B on 900M shares = $4.40 per share.
If we all think this stock is worth $20.00 then buy backs is the best use of cash.
Coal will be part of the solution for the next 100 years.
Target $9.36, page-1560
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Last
$7.65 |
Change
0.020(0.26%) |
Mkt cap ! $6.399B | |||
| Open | High | Low | Value | Volume |
| $7.69 | $7.71 | $7.64 | $24.66M | 3.217M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 22151 | $7.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.66 | 12306 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| WHC (ASX) Chart |