Zacks Investment Research upgraded shares of Westmoreland Coal (NASDAQ:WLB) from a sell rating to a hold rating in a research report sent to investors on Wednesday.
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. “
Separately, ValuEngine upgraded shares of Westmoreland Coal from a sell rating to a hold rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Westmoreland Coal presently has an average rating of Hold and an average price target of $6.00.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Teachers Advisors LLC boosted its stake in Westmoreland Coal by 9.2% in the second quarter. Teachers Advisors LLC now owns 77,144 shares of the coal producer’s stock valued at $376,000 after acquiring an additional 6,478 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Westmoreland Coal by 35.6% in the second 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 in the last quarter. Northern Trust Corp raised its holdings in shares of Westmoreland Coal by 4.6% in the second quarter. Northern Trust Corp now owns 211,804 shares of the coal producer’s stock worth $1,032,000 after buying an additional 9,401 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Westmoreland Coal by 18.5% in the second quarter. Parametric Portfolio Associates LLC now owns 139,920 shares of the coal producer’s stock worth $681,000 after buying an additional 21,845 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Westmoreland Coal by 15.4% in the third quarter. Russell Investments Group Ltd. now owns 211,862 shares of the coal producer’s stock worth $540,000 after buying an additional 28,300 shares during the last quarter. Institutional investors own 51.04% of the company’s stock.
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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.
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