New Hope (OTCMKTS:NHPEF) Shares Down 1.8% – Here’s Why

New Hope Co. Limited (OTCMKTS:NHPEFGet Free Report) was down 1.8% during trading on Monday . The stock traded as low as $2.70 and last traded at $2.70. Approximately 1,720 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 17,920 shares. The stock had previously closed at $2.75.

New Hope Stock Performance

The firm’s 50 day simple moving average is $2.72 and its 200-day simple moving average is $2.75.

New Hope Company Profile

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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.

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