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Highlights:
- Today, the S&P/ASX 200 Energy Index (ASX:XEJ) ended 2.222% higher at 10289.700 points.
- Metallurgical coal or coking coal prices rose to a record-breaking level as prices crossed US$400/tonne mark last month.
- The share prices of Yancoal Australia, Whitehaven Coal Ltd, Coronado Global Resources Inc have gained more than 100% over the last 12 months.
On Tuesday, the S&P/ASX 200 Energy Index (ASX:XEJ) ended 2.222% higher at 10289.700 points due to the rising commodity prices.
It is to be noted that coal and oil prices have always remained important due to the higher energy demand. However, these two commodities touched their record high levels last month after Russia attacked Ukraine. Disruptions in the supply chain due to the ongoing war have led to an increase in coal prices.
It is predicted that the war between Russia and Ukraine is likely to send Australia's annual mining and energy export earnings to AU$425 billion in 2021-22.
Metallurgical coal or coking coal prices rose to a record-breaking level as prices crossed US$400/tonne mark last month. Metallurgical coal is majorly used in steel production.
The two largest importers of metallurgical coal are China and India. Data from the Australian government's Resources and Energy December 2021 edition reveals that the steel industry in India is struggling with the supply of coal. This demand is anticipated to further grow in 2022.
With coal prices soaring this year, investors are looking at ways to get exposure to this booming commodity.
Not only the demand for metallurgical coal has increased over the last year, but analysts have also increased the price forecast for thermal coal, primarily used for heating/electricity generation.
In this article, we will discuss 3 ASX-listed stocks which have gained over 100% in the last 12 months -- Yancoal Australia (ASX:YAL), Whitehaven Coal Ltd (ASX:WHC), Coronado Global Resources Inc (ASX:CRN).
Yancoal Australia Limited (ASX:YAL)
On Tuesday, the shares of Yancoal Australia Limited closed 2.749% lower at AU$4.600 per share on ASX. The company has a market capitalisation of AU$6.24 billion. The stock traded in red, though there was no new update by the company today. The share price of Yancoal has gained 104.44% over the last year, while the stock is up 64.29% on year-to-date (YTD).
Yancoal Australia Limited is an ASX-listed company that is involved in the production of metallurgical and thermal coal. For the full year ending 31 December 2021, the company reported record revenue from continuing operations of AU$5.40 billion, up 56% from AU$3.47 billion in the previous corresponding period. The company is expected to pay an unfranked dividend payment of 70.4 cents per share to its shareholders on 29 April.
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Whitehaven Coal Ltd (ASX:WHC)
The shares of Whitehaven Coal Ltd closed 0.479% lower at AU$4.160 per share on ASX today. The company has a market capitalisation of AU$4.31 billion.
Whitehaven shares have gained 133.71% over the last one year, while the stock is up 50.72% YTD. Whitehaven Coal Ltd is an ASX-listed company that claims to be Australia's biggest independent coal miner. The company is involved in developing and operating coal mines in New South Wales (NSW) and Queensland.
Image Source: © Dana | Megapixl.com
Coronado Global Resources Inc (ASX:CRN):
The shares of Coronado Global Resources Inc closed 0.991% lower at AU$2.000 per share on ASX today. Coronado shares have gained 124.72% over the last 12 months, while the stock is up 55.04% YTD.
Coronado Global Resources Inc is an ASX-listed company that produces high-quality Metallurgical Coal. The company is expected make a dividend payment to its shareholders on 8 April.
In its full-year financial results for the year ended 31 December 2021, the company reported a 46.9% growth in its revenue at US$2,148.5 million.
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