Whitehaven Coal (OTCMKTS:WHITF) Stock Price Down 8% – What’s Next?

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. The Goldman Sachs Group cut shares of Whitehaven Coal from a “hold” rating to a “sell” rating and set a $6.10 target price for the company. in a research note on Monday, January 12th. Jefferies Financial Group reissued a “buy” rating on shares of Whitehaven Coal in a report on Monday, February 16th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.10.

Whitehaven Coal Stock Down 8.0%

The firm’s 50-day moving average is $6.15 and its 200 day moving average is $5.24.

Whitehaven Coal Company Profile

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.