Today’s Price Action: Could Westmoreland Coal Company Change Direction After Today’s Significant Increase?

Today's Price Action: Could Westmoreland Coal Company Change Direction After Today's Significant Increase?

The stock of Westmoreland Coal Company (NASDAQ:WLB) is a huge mover today! The stock increased 10.31% or $1.64 on November 29, hitting $17.55. About 575,206 shares traded hands or 50.13% up from the average. Westmoreland Coal Company (NASDAQ:WLB) has risen 137.46% since April 26, 2016 and is uptrending. It has outperformed by 132.20% the S&P500.
The move comes after 9 months positive chart setup for the $339.35M company. It was reported on Nov, 29 by Barchart.com. We have $18.08 PT which if reached, will make NASDAQ:WLB worth $10.18M more.

Analysts await Westmoreland Coal Company (NASDAQ:WLB) to report earnings on March, 14. They expect $0.71 earnings per share, up 166.98% or $1.77 from last year’s $-1.06 per share. WLB’s profit will be $13.73 million for 6.18 P/E if the $0.71 EPS becomes a reality. After $-0.46 actual earnings per share reported by Westmoreland Coal Company for the previous quarter, Wall Street now forecasts -254.35% EPS growth.

Westmoreland Coal Company (NASDAQ:WLB) Ratings Coverage

Out of 4 analysts covering Westmoreland Coal (NASDAQ:WLB), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Westmoreland Coal has been the topic of 9 analyst reports since September 1, 2015 according to StockzIntelligence Inc. ForwardView Consulting downgraded Westmoreland Coal Company (NASDAQ:WLB) rating on Tuesday, February 9. ForwardView Consulting has “Speculative Buy” rating and $9 price target. FBR Capital maintained Westmoreland Coal Company (NASDAQ:WLB) on Thursday, October 13 with “Outperform” rating. Seaport Global Securities initiated Westmoreland Coal Company (NASDAQ:WLB) rating on Friday, November 4. Seaport Global Securities has “Buy” rating and $20.0 price target. The stock of Westmoreland Coal Company (NASDAQ:WLB) earned “Outperform” rating by FBR Capital on Wednesday, November 23. FBR Capital maintained it with “Outperform” rating and $16 target price in Wednesday, November 9 report. The stock of Westmoreland Coal Company (NASDAQ:WLB) earned “Outperform” rating by BMO Capital Markets on Tuesday, September 1. The firm has “Outperform” rating given on Friday, September 4 by BMO Capital Markets. The stock of Westmoreland Coal Company (NASDAQ:WLB) has “Outperform” rating given on Friday, September 18 by FBR Capital. FBR Capital maintained the stock with “Outperform” rating in Monday, November 16 report.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 2.19 in 2016 Q2. Its up 0.89, from 1.3 in 2016Q1. The ratio improved, as 14 funds sold all Westmoreland Coal Company shares owned while 16 reduced positions. 10 funds bought stakes while 29 increased positions. They now own 11.26 million shares or 28.48% less from 15.75 million shares in 2016Q1.
Goldman Capital last reported 2.11% of its portfolio in the stock. Cetera Advisor Network Limited Liability Corp holds 0.01% of its portfolio in Westmoreland Coal Company (NASDAQ:WLB) for 13,508 shares. Invesco Ltd holds 0% of its portfolio in Westmoreland Coal Company (NASDAQ:WLB) for 91,735 shares. Moreover, Blackrock has 0% invested in Westmoreland Coal Company (NASDAQ:WLB) for 6,207 shares. Teachers Advsrs last reported 0% of its portfolio in the stock. Highbridge Capital Mngmt Ltd Liability last reported 42,704 shares in the company. Blackrock Fund Advsrs accumulated 0% or 475,106 shares. Gsa Limited Liability Partnership has 0.02% invested in the company for 38,899 shares. Mangrove Partners owns 1.89 million shares or 4.49% of their US portfolio. The Illinois-based Northern has invested 0% in Westmoreland Coal Company (NASDAQ:WLB). Bridgeway Cap Mngmt Inc has 0.03% invested in the company for 191,600 shares. Zacks Invest Mngmt owns 25,928 shares or 0.01% of their US portfolio. Amer Gru Inc holds 10,602 shares or 0% of its portfolio. Altalis Capital Mngmt Limited Liability Company last reported 168,383 shares in the company. Geode Capital Limited Company holds 115,424 shares or 0% of its portfolio.

More recent Westmoreland Coal Company (NASDAQ:WLB) news were published by: Moodys.com which released: “Moody’s downgrades Westmoreland Coal Company’s CFR to Caa1; outlook stable” on March 01, 2016. Also Seekingalpha.com published the news titled: “Westmoreland Coal Company: Excellent Short Candidate And Bankruptcy Protection …” on April 20, 2016. Seekingalpha.com‘s news article titled: “Westmoreland Coal Company’s (WLB) CEO Kevin Paprzycki on Q1 2016 Results …” with publication date: May 10, 2016 was also an interesting one.

WLB Company Profile

Westmoreland Coal Company, incorporated on May 4, 1910, is an energy company. The Firm operates through six divisions: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the activities of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico. Coal – Canada segment includes the activities of coal mines located in Alberta and Saskatchewan. Coal – WMLP segment includes the activities of Westmoreland Resource Partners, LP, a coal master limited partnership. Power segment includes its Roanoke Valley Power Facility (ROVA) activities located in North Carolina. Heritage segment includes the benefits the Company provides to former mining operation employees, as well as other administrative costs associated with providing those benefits and cost containment efforts. Corporate segment consists of corporate administrative expenses. The Company’s activities include over 10 coal mines in the United States and Canada, a char production facility, stake in an activated carbon plant, and approximately two coal-fired power generation units. The Firm produces and sells thermal coal primarily to investment grade utility clients under long-term cost-protected contracts, as well as to industrial clients and barbeque briquettes manufacturers.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment