Westmoreland Coal (WLB) Trading Down 5.5%

Westmoreland Coal (NASDAQ:WLB) fell 5.5% during trading on Monday . The company traded as low as $1.51 and last traded at $1.56. 1,177,449 shares were traded during mid-day trading, an increase of 132% from the average session volume of 506,890 shares. The stock had previously closed at $1.65.

WLB has been the subject of several recent analyst reports. B. Riley restated a “buy” rating on shares of Westmoreland Coal in a report on Monday, November 6th. Zacks Investment Research upgraded Westmoreland Coal from a “strong sell” rating to a “hold” rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Westmoreland Coal has a consensus rating of “Hold” and an average target price of $6.00.

The stock has a market cap of $28.87, a price-to-earnings ratio of -0.21 and a beta of 0.66. The company has a quick ratio of 0.71, a current ratio of 1.04 and a debt-to-equity ratio of -1.32.

Several institutional investors have recently made changes to their positions in the business. Mangrove Partners boosted its position in shares of Westmoreland Coal by 19.1% during the third quarter. Mangrove Partners now owns 992,251 shares of the coal producer’s stock worth $2,530,000 after buying an additional 158,906 shares during the period. Macquarie Group Ltd. acquired a new position in shares of Westmoreland Coal during the third quarter worth about $531,000. Dimensional Fund Advisors LP acquired a new position in shares of Westmoreland Coal during the second quarter worth about $1,340,000. Apollo Management Holdings L.P. acquired a new position in shares of Westmoreland Coal during the second quarter worth about $669,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Westmoreland Coal by 541.4% during the second quarter. Dynamic Technology Lab Private Ltd now owns 100,767 shares of the coal producer’s stock worth $491,000 after buying an additional 85,057 shares during the period. Institutional investors own 65.90% of the company’s stock.

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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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