Bell Potter cuts New Hope to sell with a $5.00 target after FY26 profit miss
AI Market Summary
New Hope (ASX: NHC) reported FY26 earnings below broker expectations due to higher finance costs and weaker thermal coal margins, despite declaring an outsized fully franked dividend. Bell Potter downgraded the stock to a sell rating after recent share-price appreciation, citing limited organic growth beyond New Acland Stage 3 and expectations that energy markets normalize. The update is stock-specific with limited broader market spillover.
Impact level
● Low
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AI Insight · NCSKHOOD2USD/USDTAI Insight
▼ Bearish
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Australia coal producer New Hope Corporation Ltd (ASX: NHC) reported FY26 underlying EBITDA of $514m and statutory NPAT of $161m, coming in below expectations due to higher finance expenses. The company realised an average coal price of A$145/t and an average group FOB cash cost (excluding royalties) of A$89/t, with underlying profit down 30% year on year. It declared a 30cps fully franked final dividend despite the weaker result. The stock has since been downgraded by a broker to a sell rating.
