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    NHC   AU000000NHC7

NEW HOPE CORPORATION LIMITED

(NHC)
  Report
Delayed Australian Stock Exchange  -  12:10 2022-12-06 am EST
5.770 AUD   +2.12%
11/23New Hope Expects Coal Prices to Benefit From Winter Restocking -- Commodity Comment
DJ
11/03New Hope Corporation Limited authorizes a Buyback Plan.
CI
11/02New Hope Starts $193 Million Share Buyback; Shares Climb 4%
MT
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New Hope Expects Coal Prices to Benefit From Winter Restocking -- Commodity Comment

11/23/2022 | 08:25pm EST

Australian miner New Hope Corp. on Thursday reported a fall in coal output quarter-on-quarter, but said it continues to benefit from a surge in thermal-coal prices. Here are some remarks from its first-quarter operational report for the three months through October.


On production:

"Bengalla ROM [run-of-mine] production was above plan in August, before further significant wet weather and flooding events impacted production with a total of 11,268 truck hours lost. Unseasonal wet weather and skilled labor shortages represents a 14.3% reduction of saleable coal production [at Bengalla] to the July 2022 quarter. The water discharge credits secured last quarter have been a valuable flood mitigation strategy against the unseasonal wet weather and are expected to provide further value given the forecasts of continued inclement weather in the Hunter Valley."


On demand:

"Security of supply was a key focus for buyers during the quarter, delivering robust demand. Disruptive weather played a key role in limiting any supply-side response, which highlighted further the demand and supply imbalance within the seaborne coal market. Moving into October the market has been quiet due to customers being well stocked as they move into a currently mild winter. As the temperatures in the northern hemisphere fall and coal burn increases, restocking will occur and it is expected to provide further strength to pricing. Trade flows continue to support high prices for high quality, low emission thermal coal."


Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com


(END) Dow Jones Newswires

11-23-22 2025ET

All news about NEW HOPE CORPORATION LIMITED
11/23New Hope Expects Coal Prices to Benefit From Winter Restocking -- Commodity Comment
DJ
11/03New Hope Corporation Limited authorizes a Buyback Plan.
CI
11/02New Hope Starts $193 Million Share Buyback; Shares Climb 4%
MT
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RE
More news
Financials
Sales 2023 3 853 M 2 594 M 2 594 M
Net income 2023 1 770 M 1 191 M 1 191 M
Net cash 2023 1 375 M 926 M 926 M
P/E ratio 2023 2,66x
Yield 2023 24,0%
Capitalization 4 948 M 3 331 M 3 331 M
EV / Sales 2023 0,93x
EV / Sales 2024 0,94x
Nbr of Employees 1 024
Free-Float 61,4%
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Technical analysis trends NEW HOPE CORPORATION LIMITED
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 5,65 AUD
Average target price 7,32 AUD
Spread / Average Target 29,5%
EPS Revisions
Managers and Directors
Robert J. Bishop Chief Executive Officer
Rebecca Rinaldi Chief Financial Officer & Controller
Robert Dobson Millner Non-Executive Chairman
Ian M. Williams Independent Non-Executive Director
Jacqueline Elizabeth McGill Independent Non-Executive Director