Whitehaven's FVE Modestly Raised by 2%; Shares Undervalued

Whitehaven Coal offers exposure to global energy and steel demand via thermal and metallurgical coal production. Its mines are in New South Wales, Australia. Salable coal production expanded from 10 million metric tons in fiscal 2014 to about 14 million metric tons in fiscal 2022, largely due to the ramp-up of Maules Creek and the expansion of the Narrabri mine. Driven by its purchase of the Blackwater and Daunia metallurgical coal mines in Queensland from BHP and Mitsubishi in April 2024, equity output is expected to grow to 36 million metric tons by fiscal 2028, split roughly half thermal coal and half coking coal.