Sure @skindiverHC, refer below...
O = Observation
O1: I think ~11% discount rate is a little high when they're using 8-9% for the likes of CBA & BHP for example...
O2: With A$2.5B in cash, and pending/new Qld mining royalty/tax is 'halting' significant investment across the industry in Qld, meaning less long-term CAPEX required, meaning probable 'returnn of capital' to holders, conservatively, payout ratio ~50%...
O3: EPS forecast are basically a conservative 'half' of the Morningstar figures, having worked and invested in coal-industry for some time, I don't see MET-coal demand reducing much for at least a decade, THERMAL likely to experience some reduced demand, 'blending and processing' options offer diversity of products to market/export...
O4: Global inflation appears far 'sticker' than we all anticipated, so my 'conservative guess' for EPS-growth is ~7%, factoring in inflation-influences, as well as some 'margin protection' across the sector (mining, logistics, marketing, milling, etc) vs the 18.4% Morningstar have penned in...
O5: Since 2013, WHC average ROE is 8.45% based on the WHC annual-reports, and as 'forward-looking' interest-rates likely fall, I suspect ROE can be improved, last year, WHC had a 46.4% ROE, 12.5% is another conservative guess based on macro-views...
ML
Caution, share price is too high, page-1305
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Last
$7.52 |
Change
-0.090(1.18%) |
Mkt cap ! $6.291B | |||
| Open | High | Low | Value | Volume |
| $7.59 | $7.64 | $7.48 | $28.37M | 3.765M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10784 | $7.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.53 | 14684 | 2 |
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| Last trade - 16.10pm 15/05/2024 (20 minute delay) ? |
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Last
$7.49 |
Change
-0.090 ( 1.12 %) |
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| Open | High | Low | Volume | ||
| $7.59 | $7.64 | $7.48 | 1166010 | ||
| Last updated 15.59pm 15/05/2024 ? | |||||
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