Whitehaven Coal (OTCMKTS:WHITF) Shares Down 1% – Time to Sell?

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Zacks Research lowered shares of Whitehaven Coal from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. UBS Group downgraded shares of Whitehaven Coal from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, 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 note on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.10.

Whitehaven Coal Stock Performance

The firm has a 50-day moving average of $5.50 and a 200-day moving average of $5.85.

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.