Concerns over inflation, rising interest rates, and the cost of living weighed on the share market in 2022. This ultimately led to the benchmark S&P/ASX 200 Index (ASX: XJO) losing 5.5% of its value over the 12 months.
The good news is that not all ASX 200 shares tumbled with the market. Some even managed to deliver incredible returns for investors despite the market volatility.
Five of the best-performing ASX 200 shares in 2022 are listed below. Here's how they performed:
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price was the best performer on the ASX 200 index in 2022 with a stunning 261% gain. Ethical investing went out of the window and investors flooded back into coal miners last year after the price of the black gold surged to record levels and underpinned bumper earnings in the industry. This was driven by Indonesia's coal export ban and sanctions on Russian supply.
New Hope Corporation Limited (ASX: NHC)
The New Hope share price wasn't too far behind with an impressive gain of 185%. Once again, this was driven by surging coal prices, which led to bumper profit and dividend growth from this miner. It is worth noting that this return doesn't include the fully franked dividends of 86 cents per share that New Hope paid over the 12 months. This equates to a 13.5% dividend yield based on its latest share price, bringing the total return to almost 200%.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price was a strong performer in 2022 and rose 74%. Excitement around the Finniss Lithium Project in the Northern Territory was behind this strong gain. This project is due to commence production of the battery making ingredient in 2023, which means Core Lithium should be generating material free cash flow in the not-so-distant future if lithium prices remain strong.
Woodside Energy Group Ltd (ASX: WDS)
The Woodside share price was on form and charged 62% higher over the last 12 months. This was driven by strong oil prices and the merger with the petroleum assets of BHP Group Ltd (ASX: BHP). The combination of these assets has made Woodside a much stronger company with significant growth opportunities.
Coronado Global Resources Inc (ASX: CRN)
The Coronado Global share price rounds out the top five on the ASX 200 index with a gain of 60% over the period. Once again, this was driven by sky high coal prices. Prices have been booming so much that Coronado reported a 147% increase in first half revenue and a massive profit of US$561.9 million. The latter compares to a loss of US$96 million in the prior corresponding period. What a difference a year makes!
