Westmoreland Coal Company (WLB) Sets New 1-Year Low at $2.95

Westmoreland Coal Company (NASDAQ:WLB)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $2.95 and last traded at $2.95, with a volume of 496,967 shares trading hands. The stock had previously closed at $3.14.

WLB has been the topic of a number of recent research reports. BMO Capital Markets reiterated a “buy” rating and set a $18.00 price objective on shares of Westmoreland Coal in a research note on Monday, April 24th. FBR & Co increased their price objective on shares of Westmoreland Coal from $8.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, June 23rd. ValuEngine downgraded shares of Westmoreland Coal from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 6th. Finally, Zacks Investment Research upgraded shares of Westmoreland Coal from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $11.00.

The stock’s market capitalization is $38.42 million. The firm’s 50 day moving average is $3.81 and its 200 day moving average is $9.52.

Westmoreland Coal (NASDAQ:WLB) last released its quarterly earnings results on Thursday, August 3rd. The coal producer reported ($2.69) EPS for the quarter, missing the consensus estimate of ($1.58) by $1.11. The company had revenue of $323.03 million for the quarter, compared to analysts’ expectations of $320.85 million. Analysts anticipate that Westmoreland Coal Company will post ($4.32) EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Gendell Jeffrey L boosted its stake in Westmoreland Coal by 0.8% in the first quarter. Gendell Jeffrey L now owns 1,233,479 shares of the coal producer’s stock valued at $17,911,000 after buying an additional 10,000 shares in the last quarter. Vanguard Group Inc. raised its stake in Westmoreland Coal by 4.6% in the first quarter. Vanguard Group Inc. now owns 850,166 shares of the coal producer’s stock worth $12,344,000 after buying an additional 37,373 shares in the last quarter. Mangrove Partners raised its stake in Westmoreland Coal by 1.4% in the second quarter. Mangrove Partners now owns 833,345 shares of the coal producer’s stock worth $4,058,000 after buying an additional 11,298 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Westmoreland Coal by 8.7% in the first quarter. JPMorgan Chase & Co. now owns 550,006 shares of the coal producer’s stock worth $7,986,000 after buying an additional 44,014 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Westmoreland Coal by 58.6% in the first quarter. Renaissance Technologies LLC now owns 527,500 shares of the coal producer’s stock worth $7,659,000 after buying an additional 194,800 shares during the last quarter. 74.65% of the stock is currently owned by institutional investors.

About Westmoreland Coal

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.