Weekly| NHC & WHC Rebound After Continuous Decline; NIC Plans Fundraising

As of the close on Friday,$S&P/ASX 200(XJO.AU)$ closed at 7,122.50 points, down -0.32% in the past 5 days.

During the last 5 trading days,  $New Hope(NHC.AU)$ was up 12.73%; $Nickel Industries Ltd(NIC.AU)$ added 12.00%; $Idp Education Ltd(IEL.AU)$ rose 9.24%; $WHITEHAVEN COAL LTD(WHC.AU)$ was up 8.66%; $Pilbara Minerals Ltd(PLS.AU)$ increased 6.26%.

1. $New Hope(NHC.AU)$ rebounded with oil prices

New Hope Corporation Limited explores for, develops, produces, and processes coal, and oil and gas properties.

New Hope delivered strong earnings growth year over year in May.

• Total ROM coal production down 8% year over year to 6,915mt

• Total coal sales down 21% to 5,492mt

• Underlying EBITDA up 20.6% to $448.1 million

• Closing cash and cash equivalents balance of $827 million

2. $Nickel Industries Ltd(NIC.AU)$ plans to raise $633 mln through share placement

Nickel Industries Limited engages in nickel ore mining and nickel pig iron production operations in Singapore and Indonesia.

Nickel Industries announced its intention to raise A$943 million through a placement of shares. This news of additional funding likely instilled confidence among investors, as it demonstrates the company's commitment to its growth plans and signals a positive outlook for its projects.

It also confirmed that it had executed an agreement to reduce its investment in the Excelsior Nickel Cobalt (ENC) project in Indonesia.

As part of the fundraising effort, the company intends to issue approximately 20% of its shares to PT Danusa Tambang Nusantara, a subsidiary of Indonesia's PT United Tractors Tbk UNTR.JK. The placement is specifically targeted at supporting the Stage 2 Expansion of the ENC Project, with the aim of doubling its production, according to a statement released by the company.

3. $Idp Education Ltd(IEL.AU)$ shows strong EPS and revenue growth

$Idp Education Ltd(IEL.AU)$ IDP Education Limited engages in the placement of students into education institutions.

IDP Education's growth in earnings per share (EPS) and the improvement in its EBIT margins and revenue growth are positive indicators for potential growth and shareholder confidence.

Over a three-year period, IDP Education has achieved an EPS growth rate of 13% per year. This consistent growth in EPS demonstrates the company's ability to generate increasing profits over time, which can be attractive to investors.

Furthermore, the rise in EBIT margins from 14% to 23% indicates improved operational efficiency and profitability. Increasing EBIT margins suggest that IDP Education has been able to control costs and improve its profitability on each dollar of revenue generated.

4. $WHITEHAVEN COAL LTD(WHC.AU)$ rebounded 8% after continuous decline

Whitehaven Coal Limited develops and operates coal mines in New South Wales and Queensland.

The main reason for Whitehaven’s rally is that the stock hit a new low last week. It’s common for a stock to rebound after continuous decline.

The share price performance of Whitehaven Coal Limited has been mixed over the past quarter but has shown significant growth over the past three years.

In the recent quarter, the share price of Whitehaven Coal declined by 17%. However, over the span of three years, the share price has soared by an impressive 227%.

The transition from a loss-making company to profitability has played a crucial role in driving the share price growth. As Whitehaven Coal achieved profitability, investor confidence likely increased, leading to the substantial increase in the share price.

Furthermore, the total shareholder return over the last three years, which includes both share price appreciation and dividends, amounted to an impressive 269%.

5. $Pilbara Minerals Ltd(PLS.AU)$ jumped as China’s lithuim prices increase

Pilbara Minerals Limited explores for, develops, and operates mineral resources in Australia.

The strength in Chinese lithium markets has had a ripple effect on global lithium prices. Chinese lithium prices have seen an increase due to stable demand for battery-grade lithium carbonate and increased lithium iron phosphate battery cathode production in June.

Some lithium carbonate sellers anticipate further price increases in the near future, leading them to offer at higher prices. The expectation is that battery-grade lithium carbonate prices may reach 350,000 yuan per tonne soon.