Well your analysis is wrong. That's the truth of it. The current forward P/E of NHC and WHC is about 1.5 each. In terms of of a forward P/E past next years earnings, well that's anyone's guess based on the thermal coal market. But likely to be up near 4 or 5.
I like SMR, but they are operating in QLD and are a met coal producer which is exposed to economic sensitives (Steel demand). I prefer Thermal coal over the short run. But long term I think met probably produces higher margins.
SMR Price at posting:
$2.28 Sentiment: Hold Disclosure: Not Held
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