How are these ASX mid-cap shares faring this year?

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Highlights

  • New Hope Corporation’s full-year dividend for FY22 stood at 86 cents compared to 11 cents in FY21.
  • Coronado’s YTD group revenue was AU$2,854 million, up 107.8% compared to YTD 2021.
  • Worley Limited recently bagged a PMA for Anglo American’s Woodsmith project in northeast England.

Mid-cap stocks refer to the companies that lie between the large- and small-cap segments. These stocks are considered relatively more liquid compared to small-cap stocks and less prone to market volatility.

The S&P/ASX MidCap 50 index reflects the mid-cap landscape of Australia. As of 25 Nov, the index is green by about 3.77% on a month-to-date basis and is up by 11% this quarter. However, the index is down by nearly 5.33% this year-to-date (YTD).

On that note, we at Kalkine Media® will discuss some ASX-listed stocks from the mid-cap space that have registered decent price returns this YTD.

New Hope Corporation Limited (ASX:NHC)

New Hope Corporation, a diversified energy company, is engaged in activities including the development and operation of coal mines, handling of ports and logistics, and development and production of oil & gas.

New Hope claims to have generated record cash in FY22 due to demand outdoing supply. The company mentioned that the Russia-Ukraine war had resulted in stronger demand for high-energy, low-emission thermal coal.

The company’s full-year dividend for FY22 stood at 86 cents compared to 11 cents in FY21. Its underlying EBITDA surged by 330% to AU$1,577 million. Similarly, net profit after tax (NPAT) skyrocketed by 1146% to AU$983 million. The company attributed the EBITDA surge to sustained production at Bengalla, irrespective of out-of-hand weather events and the COVID-19 pandemic-led labour disruptions.



 


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