Whitehaven Coal (OTCMKTS:WHITF) Stock Price Down 1% – What’s Next?

Whitehaven Coal Limited (OTCMKTS:WHITF) traded down 1% during mid-day trading on Wednesday . The company traded as low as $4.93 and last traded at $4.9480. Approximately 1,666 shares were traded during trading, a decline of 89% from the average session volume of 15,315 shares. The stock had previously closed at $5.00.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WHITF shares. Zacks Research lowered shares of Whitehaven Coal from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. The Goldman Sachs Group raised shares of 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. Finally, UBS Group lowered shares of Whitehaven Coal from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.10.

Whitehaven Coal Stock Performance

The firm’s 50-day simple moving average is $5.52 and its 200 day simple moving average is $5.86.

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.