New Hope has cut its full-year sales guidance but the producer says the coal market is showing early signs of a rebound after a prolonged slump in prices.
Shares in New Hope fell 6 per cent to $3.66 after the company cut its sales and saleable production forecasts and reported a 27 per cent drop in quarterly underlying earnings before interest, taxes, depreciation, and amortisation to $155.2 million because of lower coal prices.
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