Whitehaven Coal Stock Buyback Lifts Pace, But Shares Slid
Whitehaven Coal dropped on Tuesday, with sellers in the mining sector outweighing gains from firmer coal prices and capital returns. The stock slipped even as a new buy-back filing showed Whitehaven is near its A$32 million repurchase cap. The shares ended at A$9.18, slipping 19 cents, or 2.03%. Market data from Trading Economics shows a 12-month gain of roughly 60%. The stock started softer after the ASX cash market closure for the King’s Birthday holiday on Monday.