New Hope (OTCMKTS:NHPEF) Trading Down 3% – Here’s Why
by Doug Wharley · The Cerbat GemNew Hope Co. Limited (OTCMKTS:NHPEF – Get Free Report)’s stock price dropped 3% on Tuesday . The company traded as low as $3.85 and last traded at $3.90. Approximately 228,056 shares traded hands during trading, an increase of 1,892% from the average session volume of 11,448 shares. The stock had previously closed at $4.02.
New Hope Stock Performance
The company’s 50-day simple moving average is $3.93 and its 200-day simple moving average is $3.52.
New Hope Company Profile
New Hope Corporation Limited (OTCMKTS:NHPEF) is an Australian resources company headquartered in Brisbane, Queensland. The company is principally engaged in the exploration, development and mining of thermal coal reserves. Established with a focus on long-term supply, New Hope operates a portfolio of coal assets in eastern Australia.
Key mining operations include the New Acland Coal Mine on the Darling Downs and the Boggabri Coal Mine project in New South Wales. Utilizing open-cut mining methods, the company produces medium- to high-quality thermal coal for electricity generation.