In today’s briefing:
- Whitehaven Coal June Quarterly: 45% of Mkt Cap in Cash, >20% OCF Yield, Aggressive Buyback
- The Energy Cable #29 – A weak USD paving the way for commodities?
Whitehaven Coal June Quarterly: 45% of Mkt Cap in Cash, >20% OCF Yield, Aggressive Buyback
- Whitehaven Coal (WHC AU) released its June Quarterly. The company is in blackout (starting July 1st) till its release of annual results on August 24th, 2023.
- June quarter OCF was 435 mn AUD ( Avg Coal Px 177 USD/ton), and net cash on the balance sheet was 2.65 bn AUD representing 45% of market capitalization.
- To complete its buyback program, 147 million shares remain left to repurchase (current o/s shares 836 mn). 196 million shares have been repurchased so far since March 2022.
The Energy Cable #29 – A weak USD paving the way for commodities?
- Welcome to your weekly maverick energy newsletter from both sides of the pond.
- Stars are starting to align for energy as i) the business cycle seems to be holding up better than feared, ii) the USD is weakening and iii) ongoing supply negative news (prolonged Saudi Arabian supply cut and Russia abandoning the grain deal).
- Time to go long energy?
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