Potential Buy Entry Alert to Watch NHC
Time Frame : Weekly
Sector : Energy/Basic Materials
Key Stats : $2.9 Billion Market Cap, VWAP 3.545, ASX Ranking 120, 4 Week Av Turnover $10,253,426, Current Turnover (Intraday as at time of alert) $792,781, PE 19.4, Div Yield 2.29%.
Company Overview : This division produces thermal coal for domestic and Asia Pacific customers. The production is generated from its New Aclandand Jeebropilly mines in Queensland and Bengalla mine in NSW. Total production of coal for FYE 2018, till end of Q3 was 6554,000t.
Broker Consensus : HOLD
NHC – New Hope Group Limited
NHC has pulled back from the highs set a few months ago but has held a nice support zone around 3.10. We still see that the buyers have some work to do, but given that they are putting in the ground work and price is in a prime position to continue the trend higher, we expect action soon.
Stock Code : NHC – New Hope Group Limited
Company Website : www.newhopegroup.com.au
Current Price : 3.585
Status : On watch for Buy entry setup
