I have it on 5.5 to 6. If you plug in a higher met price ($300ish) i get a PE closer to 4.
I think we have 30 - 40% upside still.
U.S miners like AMR and ARCH are trading closer to 10, however they have higher sensitivity to Met coal price changes, so you could argue should trade a bit higher, they also dont have to deal with a woke state government and our taxes.
However, we have franking credits which also makes the income more appealing (When we get it).
Based on the above I would think a market cap around $12bil is fairly valued (normalising long term Met prices).
That gets you to about $14.34 which is 40% from here.
I have it on 5.5 to 6. If you plug in a higher met price...
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Last
$5.84 |
Change
-0.270(4.42%) |
Mkt cap ! $4.885B | |||
| Open | High | Low | Value | Volume |
| $5.99 | $6.01 | $5.82 | $58.21M | 9.810M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 31 | 30394 | $5.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.84 | 20121 | 24 |
View Market Depth
| Last trade - 13.57pm 06/09/2024 (20 minute delay) ? |
| WHC (ASX) Chart |