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6.25% $7.65 whitehaven coal limited

Stock of the day: Whitehave CoalWhitehaven Coal reports a...

  1. really
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    22/08/24
    18:11
    Post #: 75330727

    Stock of the day: Whitehave Coal

    Whitehaven Coal reports a significant profit decline but strengthens its balance sheet with a strategic sale to Nippon Steel, boosting investor confidence.





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    Publication date: Thursday 22 August 2024 13:22


    This video was created on 22 August for IG audiences by ******.

    Stock of the day: Whitehaven Coal (ASX:WHC)

    Tactical sale to Nippon Steel offsets profit loss

    Whitehaven Coalhas reported an 87% drop in net profit after tax to $355 million, driven byinflationarypressures and reduced output at its Narrabri mine.

    Despite this decline,Whitehavenannounced a 13-centdividendand revealed the sale of a 30% stake in its Blackwater mine to Nippon Steel for $1.5 billion. This strategic move boosted Whitehaven’s stock by 5%, reflecting investor confidence in the company’s ability to strengthen its balance sheet and meet its $500 million obligation toBHP.

    Market response and future outlook

    Analysts suggestWhitehaven's focus on metallurgical coal, along with prudent financial management, positions the company well for future growth. While the coal market may not return to previous highs, the company’s strategic decisions are expected to sustain shareholder value.

    Last edited by really: Today, 18:12
    WHC Price at posting: $7.65 Sentiment: Buy Disclosure: Held
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$7.65 		Change
0.450(6.25%) 		Mkt cap ! $6.399B
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No. Vol. Price($)
2 43827 $7.64
 

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Price($) Vol. No.
$7.66 1500 2
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