Whitehaven Coal (OTCMKTS:WHITF) Shares Down 5.7% – Here’s What Happened

Whitehaven Coal Limited (OTCMKTS:WHITF)’s share price dropped 5.7% on Friday. The stock traded as low as $5.15 and last traded at $5.15. Approximately 1,100 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 13,907 shares. The stock had previously closed at $5.46.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WHITF. Zacks Research downgraded Whitehaven Coal from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. UBS Group lowered Whitehaven Coal from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, The Goldman Sachs Group upgraded Whitehaven Coal from a “sell” rating to a “hold” rating and set a $8.10 price objective for the company in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.10.

Whitehaven Coal Trading Down 5.7%

The firm’s fifty day moving average price is $5.55 and its two-hundred day moving average price is $5.75.

Whitehaven Coal Company Profile

Whitehaven Coal Limited is an Australia-based coal producer focused on the exploration, development, mining, processing and sale of thermal and metallurgical coal. The company supplies coal for electricity generation and steelmaking, with production sold primarily into international markets across Asia.

Whitehaven operates open-cut and underground mines in New South Wales, including the Maules Creek and Narrabri mines in the Gunnedah Basin. Its New South Wales portfolio has also included the Werris Creek mine and the Vickery project.