What’s going on? New Hope was not the only ASX 200 coal share to decline today. Whitehaven Coal Ltd (ASX: WHC) shares lost nearly 7%, while Coronado Global Resources Inc (ASX: CRN) shares slipped more than 2%.A decline in the coal price may have weighed on coal explorers today. The Sydney Morning Herald reported coal prices fell 12.7%, impacting the coal sector.
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However, thermal coal prices are forecast to grow from US$245 a tonne in FY22 to US$360 a tonne in FY24. New Hope is predicted to pay the highest dividend yield of any ASX 200 share in FY24. Consensus estimates tip a dividend yield of 19.5%, my Foolish colleague James reported this week. Morgans is tipping an 80 cent per share dividend yield in 2024, while Citi analysts predict the dividend could be a whopping $1.93 a share.
NHC Price at posting:
$5.84 Sentiment: Buy Disclosure: Held
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