Whitehaven Coal (OTCMKTS:WHITF) Trading Down 8% – Time to Sell?

Whitehaven Coal Limited (OTCMKTS:WHITF)’s share price traded down 8% during trading on Tuesday . The company traded as low as $6.27 and last traded at $6.30. 119,100 shares changed hands during mid-day trading, an increase of 501% from the average session volume of 19,827 shares. The stock had previously closed at $6.85.

Analysts Set New Price Targets

Several brokerages have issued reports on WHITF. The Goldman Sachs Group lowered Whitehaven Coal from a “hold” rating to a “sell” rating and set a $6.10 price target on the stock. in a report on Monday, January 12th. Jefferies Financial Group restated a “buy” rating on shares of Whitehaven Coal in a report on Monday, February 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.10.

Whitehaven Coal Stock Down 3.0%

The business’s 50 day simple moving average is $6.16 and its two-hundred day simple moving average is $5.24.

About Whitehaven Coal

Whitehaven Coal (OTCMKTS:WHITF) is an Australian coal producer primarily engaged in the exploration, development, production and sale of coal in New South Wales. The company’s operating assets are located in the resource-rich Gunnedah Basin and the Hunter Valley region, where it develops both open-cut and underground mining projects. Whitehaven focuses on delivering high-quality coal products to industrial and power generation markets.

The company’s main operating mines include Maules Creek, Narrabri and its flagship Whitehaven Mine, each equipped with modern mining and processing facilities.