Shares of Australian coal producer Whitehaven has risen 200% this year. The share price of the Australian-listed miner has risen about 150% since the Russia-Ukraine crisis started in late February, and hit a record high of 7.90 Australian dollars ($5.47) on Wednesday.
In other words, an investor who purchased Whitehaven shares late last year would have seen his or her investment increase more than three times. Chatter among stockwatchers on the popular online Australian stock market forum HotCopper has also increased.
Some were excited over Whitehaven’s all-time high while others were careful that its share price could be “too high.” But one analyst had words of caution.
For investors who are toying with whether to cash in on the stock should be wary as the stock is now highly speculative, Australian stock analyst Under The Radar Report mining analyst Peter Chilton said. “It’s a good company but there’s been a great deal of share price exuberance, which is not sustainable,” Chilton said.
For the rest of this article: https://www.cnbc.com/2022/08/24/shares-of-australian-coal-miner-whitehaven-up-150percent-since-ukraine-war.html