New Hope Misses Quarterly Coal Production Estimates, Jefferies Says

MT Newswires Live11-18

New Hope's (ASX:NHC) quarterly run-of-mine (ROM) production came in about 14% lower than Jefferies' forecast, owing to wet-weather remediation, the brokerage said in a note on Monday.

The miner's ROM coal production fell to 3.9 million tons in the quarter ended Oct. 31, from 4 million tons last year, according to a Monday filing with the Australian bourse.

Jefferies said the company's ROM, saleable, and sales guidance also missed its expectations due to weather-related impacts, which are expected to recover by the second half of 2026.

"While contributions from Maxwell Mine remain outside formal guidance, early-stage production is ramping up through FY26," the brokerage commented.

Jefferies maintained its hold rating on New Hope with a price target of AU$4.20.

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