The Whitehaven Coal Ltd (ASX: WHC) share price has rocketed in the past month.
Shares in the coal miner have gained around 20% in that time although, in afternoon trade today, Whitehaven shares are down 0.53%, currently trading at $2.86 apiece.
Let's take a look at what may be behind the movement in the company's share price lately…
What's impacting Whitehaven Coal
The Whitehaven Coal share price has risen in the past month despite no price sensitive news from the company. However, rising demand for coal and elevated prices may have impacted investor confidence.
Whitehaven is one of the most significant coal players in Australia, with exploration at four mines in NSW and two development assets in Queensland.
Likely driving the share price hike over the past month was news the world's biggest thermal coal exporter, Indonesia, had banned coal exports.
Rueters reported the south-east Asian country had imposed the ban due to concerns for its own power demand.
Investors likely see the ban as providing more opportunities for Whitehaven Coal and other competitors to export the product while also driving up the price of coal.
Indeed, the coal price has increased by 20% since market close on 10 December and is now trading at US$197 per tonne.
Also spurring the Whitehaven Coal share price may be positive broker recommendations. Six brokers have issued a buy rating on the miner.
As my Foolish colleague Tristan reported two days ago, Citi has placed a $3.20 price target on Whitehaven Coal. That's around 10% more than the current share price at the time of writing.
In the last update from the company in October, Whitehaven Coal CEO Paul Flynn said rising thermal coal prices would also lead to "significant cash generation" in the coming months.
Share price snap shot
The Whitehaven Coal share price gained 80% in the past year. That's far more robust the benchmark S&P/ASX 200 Index's (ASX: XJO) return of around 12% for the same period.
Shares in Whitehaven are up 4% in the past week.
The company has a market capitalisation of nearly $3 billion based on the current share price.
