In a report released today, Hayden Bairstow from Macquarie maintained a Sell rating on New Hope Corporation Limited (NHPEF – Research Report), with a price target of A$4.20. The company’s shares closed last Monday at $3.89.
According to TipRanks, Bairstow is a 3-star analyst with an average return of 1.4% and a 43.85% success rate. Bairstow covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, Piedmont Lithium, and Pilbara Minerals Limited.
New Hope Corporation Limited has an analyst consensus of Moderate Sell, with a price target consensus of $2.96, which is a -23.91% downside from current levels. In a report released today, Citi also downgraded the stock to a Sell with a A$5.50 price target.
Based on New Hope Corporation Limited’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $140.53 million and a net profit of $4.77 million. In comparison, last year the company earned a revenue of $98.96 million and had a GAAP net loss of $24.29 million
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New Hope Corporation is an Australian pure-play thermal coal miner. Its two operating assets-the 100% owned New Acland coal mine and its 80% interest in the Bengalla coal mine-produce a cumulative 12 million tonnes of salable thermal coal annually. The vast majority of New Hope’s production is sold into seaborne thermal coal export markets. Reserves at New Acland and Bengalla are sufficient to support multi-decade mine lives. New Hope’s undeveloped coal resources are extensive and include exploration status coal resources in excess of 1 billion tonnes in Queensland’s Surat basin.
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