Federated Investors Inc. PA raised its holdings in Westmoreland Coal Company (NASDAQ:WLB) by 52.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 201,952 shares of the coal producer’s stock after buying an additional 69,556 shares during the quarter. Federated Investors Inc. PA owned about 1.08% of Westmoreland Coal worth $984,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. American International Group Inc. grew its position in shares of Westmoreland Coal by 7.1% in the 1st quarter. American International Group Inc. now owns 11,341 shares of the coal producer’s stock worth $165,000 after buying an additional 751 shares during the last quarter. OppenheimerFunds Inc. grew its position in shares of Westmoreland Coal by 4.3% in the 1st quarter. OppenheimerFunds Inc. now owns 13,899 shares of the coal producer’s stock worth $202,000 after buying an additional 579 shares during the last quarter. Tudor Investment Corp ET AL grew its position in shares of Westmoreland Coal by 15.3% in the 1st quarter. Tudor Investment Corp ET AL now owns 14,254 shares of the coal producer’s stock worth $207,000 after buying an additional 1,892 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Westmoreland Coal by 16.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 14,319 shares of the coal producer’s stock worth $208,000 after buying an additional 1,998 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Westmoreland Coal in the 1st quarter worth approximately $228,000. Hedge funds and other institutional investors own 78.25% of the company’s stock.
Several equities research analysts recently weighed in on the company. FBR & Co lifted their price target on Westmoreland Coal from $8.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, June 23rd. Zacks Investment Research lowered Westmoreland Coal from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 24th. ValuEngine lowered Westmoreland Coal from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 6th. Finally, BMO Capital Markets lowered Westmoreland Coal from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $18.00 to $5.00 in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $10.67.
Westmoreland Coal Company (WLB) opened at 2.46 on Friday. The firm’s 50-day moving average price is $2.61 and its 200-day moving average price is $7.49. The stock’s market cap is $46.11 million. Westmoreland Coal Company has a 52 week low of $1.88 and a 52 week high of $19.92.
Westmoreland Coal (NASDAQ:WLB) last issued its quarterly earnings data 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 firm had revenue of $323.03 million during the quarter, compared to analysts’ expectations of $320.85 million. Equities analysts predict that Westmoreland Coal Company will post ($4.72) earnings per share for the current fiscal year.
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Westmoreland Coal 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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