Westmoreland Coal Company (NASDAQ:WLB) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Westmoreland Coal Company’s principal activities are: the production and sale of coal from the Powder River Basin in eastern Montana; the ownership of interests in cogeneration and other non-regulated independent power plants; and the leasing of capacity at Dominion Terminal Associates, a coal storage and vessel loading facility. “
A number of other equities analysts have also recently weighed in on the company. FBR & Co reiterated a “buy” rating and set a $7.00 price target on shares of Westmoreland Coal in a report on Friday, September 1st. BMO Capital Markets cut Westmoreland Coal from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $18.00 to $5.00 in a report on Thursday, August 3rd.
Shares of Westmoreland Coal (WLB) traded down $0.10 on Thursday, hitting $1.69. The company’s stock had a trading volume of 179,159 shares, compared to its average volume of 263,639. Westmoreland Coal has a twelve month low of $1.65 and a twelve month high of $19.92. The company has a debt-to-equity ratio of -1.32, a current ratio of 1.04 and a quick ratio of 0.66.
Westmoreland Coal (NASDAQ:WLB) last released its quarterly earnings results on Thursday, August 3rd. The coal producer reported ($2.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.58) by ($1.11). The firm had revenue of $323.03 million during the quarter, compared to analyst estimates of $320.85 million. sell-side analysts forecast that Westmoreland Coal will post -4.76 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. Western Standard LLC purchased a new position in Westmoreland Coal during the 2nd quarter valued at about $123,000. Edge Wealth Management LLC purchased a new position in Westmoreland Coal during the 3rd quarter valued at about $128,000. Alliancebernstein L.P. boosted its holdings in Westmoreland Coal by 35.6% during the 2nd quarter. Alliancebernstein L.P. now owns 27,400 shares of the coal producer’s stock valued at $133,000 after acquiring an additional 7,200 shares during the period. American International Group Inc. boosted its holdings in Westmoreland Coal by 7.1% during the 1st quarter. American International Group Inc. now owns 11,341 shares of the coal producer’s stock valued at $165,000 after acquiring an additional 751 shares during the period. Finally, Tudor Investment Corp ET AL boosted its holdings in Westmoreland Coal by 166.7% during the 2nd quarter. Tudor Investment Corp ET AL now owns 38,012 shares of the coal producer’s stock valued at $185,000 after acquiring an additional 23,758 shares during the period. Institutional investors own 77.97% of the company’s stock.
Westmoreland Coal Company Profile
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal-U.S., Coal-Canada, Coal-(WMLP), Power, Heritage and Corporate. The Coal-U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico. The Coal-Canada segment includes the operations of coal mines located in Alberta and Saskatchewan.
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