To The Moon

As of the close on Friday, $S&P/ASX 200(XJO.AU)$ closed at 7,822.30 on Friday, up 0.71% in the past 5 days. 1. $WHITEHAVEN COAL LTD(WHC.AU)$ +17.25% Australian coal stocks are headed for their best week in years after a fire shut down one of country’s major mines, with Morgan Stanley seeing further upside for the commodity. Whitehaven Coal Ltd. is poised for a 17% weekly advance, its best since October 2022. The fire “may help bring about an earlier tightening of the market balance,” Morgan Stanley analysts including Sara Chan wrote in a July 3 note, adding they expect about 15% upside to year-end coking coal prices. “We see a near-term opportunity in coking or met coal, especially after the recent share price pullback.” 2. $CORONADO GLOBAL RESOURCE-CDI(CRN.AU)$ +13.92% The Coronado Global Resources share price is up over 10% to $1.31. Investors have been buying this coal miner's shares in response to news of a fire burning underground in a major coal mine owned by Anglo American in Queensland. The Grosvenor mine is expected to produce 2.3 million tonnes of metallurgical coal this year. And while it is unclear at this stage how long the mine will be out of action, investors appear to believe there could be a meaningful impact to global supply. 3. $MAGELLAN FINANCIAL GROUP LTD(MFG.AU)$ +12.83% Magellan Financial Group Ltd shares have been in focus lately, with the stock trading a whopping 15.3% higher over the past month. Shares in the formerly embattled fund manager are currently swapping hands at $9.55 per share, up 5.29% from the open on Friday. Investors have bought Magellan this week after its monthly funds flow update showed outflows drying up. This was coupled with a significant lift in performance fees for FY24 to $19 million. These performance fees could signify a stronger performance of its investment strategies. Investment bank Macquarie remains cautious about Magellan, keeping its 'underperform' rating despite the recent share price surge. 4. $STANMORE RESOURCES LTD(SMR.AU)$ +12.15% Stanmore Resources has decided to begin the process of ceasing operations at the Mavis Underground project following a comprehensive strategic review. This review determined that, given its relatively short mine life, the Mavis Underground project has proven to be uneconomic under current market conditions and coal prices, with comparatively higher costs driven among other reasons by the challenging ramp up and lower production volumes achieved to date. Notwithstanding this decision, the company does not expect consolidated guidance metrics to be impacted, as its core operations at South Walker Creek, Poitrel, and the Isaac Plains complex are expected to continue to perform strongly this year. Stanmore Resources has had a great run on the share market with its stock up by a significant 12% over the last three months. 5. $LYNAS RARE EARTHS LTD(LYC.AU)$ +10.62% Lynas Rare Earths Limited has released an update. Lynas Rare Earths Limited has announced the cessation of 111,322 performance rights due to unmet conditions, with the cessation effective as of June 30, 2024. This significant update to their issued capital could be of interest to current and potential investors tracking the company’s stock performance. Lynas Rare Earths Ltd shares could have market-beating potential. That's the view of analysts at Ord Minnett, which believe the rare earths producer's shares are being undervalued by the market. Ord Minnett currently has a buy rating and $8.00 price target on Lynas shares. Based on its current share price of $6.55, this implies potential upside of 22% for investors over the next 12 months.