Whitehaven Coal (OTCMKTS:WHITF) Stock Price Down 5.7% – Here’s Why

Whitehaven Coal Limited (OTCMKTS:WHITF)’s share price was down 5.7% during trading on Friday. The stock traded as low as $5.15 and last traded at $5.15. Approximately 1,100 shares changed 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

Several equities research analysts recently issued reports on WHITF shares. The Goldman Sachs Group upgraded Whitehaven Coal from a “sell” rating to a “hold” rating and set a $8.10 price target for the company in a report on Wednesday, July 8th. UBS Group cut Whitehaven Coal from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Zacks Research lowered shares of Whitehaven Coal from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Whitehaven Coal presently has an average rating of “Hold” and an average target price of $8.10.

Whitehaven Coal Trading Down 5.7%

The stock has a 50-day moving average of $5.55 and a 200 day moving average of $5.75.

About Whitehaven Coal

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.