What is happening with Yancoal’s (ASX:YAL) shares lately?

November 01, 2022 11:09 AM AEDT | By Ritwika
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Highlights: 

  • Yancoal’s share price was quoted 2.325% lower, at AU$5.040 apiece, on the Australian Stock Exchange (ASX) today.
  • Meanwhile, the S&P/ASX 200 Energy sector was quoted 0.41% higher.  

Shares of Australian coal producer Yancoal Australia Limited (ASX:YAL) opened today’s trading session on a negative note on the Australian Stock Exchange (ASX). The share price dropped by 2.325% to AU$5.040 apiece at 10:39 AM AEDT today (1 November 2022). 

The share price of Yancoal has gained almost 71% on the ASX in the previous year. Moreover, on a YTD basis, the company’s share price went up nearly by 80% on the ASX (as of 10:39 AM AEDT today). 

Although Yancoal did not share any price-sensitive update on the ASX, its shares were spotted trading in the red territory on Tuesday morning.

The S&P/ASX 200 Energy sector (INDEXASX:XEJ) was quoted at 11260.6 points, up by 0.41% on the ASX at 10:59 AM AEDT. 

Recent developments within Yancoal: 

On 20 October 2022, Yancoal shared its quarterly activity report for the September quarter ended 30 September 2022 (Q3 FY22). 

Following are the key highlights of Yancoal’s Q3 FY22 activity report: 

  • In the September quarter, Yancoal achieved a record quarterly average realised price of AU$481/t, representing a gain of 31% from its previous quarter, and a 210% gain from its previous corresponding period. 
  • The company’s cash position increased by AU$1.9 billion in the September quarter after it paid an AU$696-million interim dividend to its shareholders and paid AU$1.2 million of debt. 
  • As of 30 September 2022, Yancoal’s cash balance stood at AU$3.4 billion.
  • Furthermore, the company also completed repaying a debt payment of US$1 billion on 4 October 2022. This has reduced Yancoal’s debt below US$800 million. 

Yancoal said that the national labour shortage and poor weather conditions had continued to affect its coal production throughout the quarter. However, the company has made some additional investments in equipment to help in business recovery. 


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