Coal miner New Hope (ASX:NHC) wants to buy Anglo American’s five coal mines in Queensland but is seeking a significant discount due to the fire damage at the Grosvenor underground operation.
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As forecast, after a mixed first half production and pricing report, coal miner New Hope Corporation (ASX:NHC) suffered a 62.4 per cent drop in its first-half profit, hurt by a sharp decline in worldwide coal prices.
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More confirmation of the sharp fall in returns from thermal coal mining and exports in Queensland, especially in the NSW Hunter Valley, emerged with New Hope Corp (ASX:NHC), the 40% owned associate of Washington H Soul Pattinson, informing the ASX on Monday that net earnings for the six months to January fell by 59%.
Read MoreThermal coal exporter New Hope Corp revealed an upbeat performance in April’s quarterly report and also provided some surprise news about sales into China.
Read MoreNew Hope Corporation confirmed the coal price boom extended to the end of January this year with a massive surge in interim revenue, earnings and payout to shareholders.
Read MoreMore record highs for local coal miners Whitehaven and New Hope as punters sought to buy to grab extra profits for coal exports not even earned yet after the OPEC+ oil output cut.
Read MoreWhitehaven Coal shares touched record levels this week after revealing more rewards from the coal price boom for shareholders to enjoy; others in the space are doing equally well.
Read MoreThe New Hope share price rocketed nearly 9% Tuesday on the back of the company’s strong full year earnings result and, perhaps more importantly, huge lift in dividend payout.
Read MoreThe target price jumps to $4.69 from $3.67 and the Add rating is unchanged.
Read MoreDespite the new royalty structures introduced in Queensland last week, coal miners with well managed operations are still likely to obtain profitability for the foreseeable future.
Read MoreCredit Suisse retains its Outperform rating and $4.90 target.
Read MoreInvestors in the local coal sector ran for the hills on Thursday with heavy falls in the share prices of a few major players and plenty of speculation about one in particular.
Read MoreThe broker prefers Whitehaven Coal ((WHC)) over New Hope. The Outperform rating is retained and the target price increases to $4.90 from $3.50.
Read MoreThe Outperform rating is retained and the target price increases to $3.50 from $3.00.
Read MoreNew Hope Corporation is riding high after reporting record revenue earnings and payout for its full 2021-22 financial year yesterday on the back of the current coal price boom.
Read MoreThe Outperform rating is retained and the target price increases to $3.00 from $2.70.
Read MoreThe target price rises to $2.61 from $2.08 and the Add rating is maintained.
Read MoreThe target price also increases to $2.08 from $1.70 and the Add rating is unchanged.
Read MoreMacquarie downgrades New Hope to Neutral from Outperform following recent strength in the share price. Target is raised to $1.70 from $1.50.
Read MoreThings are looking up for coal miner New Hope thanks to a major turnaround in the price of its chief source of revenue, thermal coal, which has hit $120/tonne.
Read MoreFirst half revenue and underlying earnings (EBITDA) were around $30-40m ahead of Morgans forecasts, driven by higher than expected realised prices and a cost reduction at Bengalla. Add rating and target increases to $1.70 from $1.60.
Read MoreMorgans is not surprised by the muted share price response to the legal action against Acland 3 as no value had previously been recognised by the market. The Add rating is unchanged and the target price is increased to $1.60 from $1.53.
Read MoreCredit Suisse has upgraded its outlook for thermal coal prices as the market has started to show signs of improvement. The bounce back to the high US$50/t potentially suggests the worst might be behind the market.
Read MoreNo final dividend from thermal coal miner and exporter, New Hope after the company incurred second-half losses for 2010-20 from the slump in demand for power energy type coals due to the COVID-19 pandemic hitting economic activity across the globe, especially in Asia.
Read MoreMorgans believes the company is at risk of disappointing the market expectations due to persistently low thermal coal prices. Additional disappointment may come from non-core asset write-downs, head office re-location costs, legal costs and staff redundancies.
Read MoreWhile oil was in the hot seat in March-April, coal is now in focus, reeling from a slump in demand as prices fall to multi-year lows. What is a reasonable short-term floor?
Read MoreThree results including two from yesterday – from Nufarm and Sigma Healthcare – confirm that the figures are historical and useless for assessing the company’s outlook for the rest of the year and into 2021 in the wake of the impact of COVID-19.
Read MoreIn adversity lies opportunity and some deep-pocketed investors have recognised that, like the Stone Age, the era of coal won’t end overnight.
Read MoreA glance through the latest expert views and predictions about commodities. Large cap resources; copper; base metals; iron ore; and coal.
Read MoreA glance through the latest expert views and predictions about commodities. Coal; oil; alumina; iron ore; gold; and diamonds.
Read MoreThe FY19 result revealed materially softer coal prices in the second half. Delays at Acland continue. The project still requires the mining and water licence to proceed and no further insight was provided.
Read MoreThe annual results for coal miner, New Hope Corporation might have been a record, but the detail left investors unimpressed.
Read MoreBack in late 2011 Citi stopped covering New Hope Corp, leaving with a Buy recommendation and $6.10 price target. Circumstances since have obviously changed a lot. Today, Citi re-appears with a Neutral rating and $2.55 price target.
Read MoreFirst-half results missed expectations because of costs. Credit Suisse suspects investors are concerned that the syndicated loan the company has acquired is a signal for lower capital returns going forward.
Read MoreDespite claiming the most profitable six months in its history and a one-third lift in interim dividend, investors yesterday sold off shares in coal miner New Hope Corp.
Read MoreThere will be some very happy shareholders in New Hope Corporation – especially its major holder – Washington H Soul Pattinson after the NSW and Queensland coal miner lifted total dividend payout for 2017-18 by 40%.
Read MoreCoal miner, New Hope Corporation says it expects to report a near doubling in after-tax profit (before one-off items) for the year to July 31 when it releases its 2017-18 figures tomorrow.
Read MoreCoal miner New Hope Corporation, which is a part of the Washington H. Soul Pattinson group of companies has swung to an annual profit on the back of stronger sales and sharply improved coal prices – much from its from its recently purchased stake in the huge Bengalla mine in the Upper Hunter Valley of NSW.
Read MoreNew Hope Coal (NHC), which is, with TPG Telecom, part of the Soul Patts corporate group based in Sydney, surprised yesterday with a better than expected interim result – this time from a major expansion move at the depth of the recent coal recession.
Read MoreThe rebound in global coal prices either came too late for Queensland and NSW miner, New Hope Group (NHC) in the 2015-16 financial year, or they passed it by because of the way the company prices its sales (linked to an index rather than spot prices).
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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