The stock of Westmoreland Coal Company (NASDAQ:WLB) hit a new 52-week high and has $15.83 target or 42.00% above today’s $11.15 share price. The 7 months bullish chart indicates low risk for the $243.43M company. The 1-year high was reported on Nov, 2 by Barchart.com. If the $15.83 price target is reached, the company will be worth $102.24M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 530,624 shares traded hands or 250.26% up from the average. Westmoreland Coal Company (NASDAQ:WLB) has risen 44.80% since March 31, 2016 and is uptrending. It has outperformed by 42.28% the S&P500.
Westmoreland Coal Company (NASDAQ:WLB) Ratings Coverage
Out of 3 analysts covering Westmoreland Coal (NASDAQ:WLB), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Westmoreland Coal has been the topic of 6 analyst reports since September 1, 2015 according to StockzIntelligence Inc. FBR Capital maintained the stock with “Outperform” rating in Thursday, October 13 report. The stock has “Outperform” rating given by FBR Capital on Monday, November 16. The firm has “Outperform” rating given on Tuesday, September 1 by BMO Capital Markets. FBR Capital initiated the stock with “Outperform” rating in Friday, September 18 report. The stock of Westmoreland Coal Company (NASDAQ:WLB) has “Outperform” rating given on Friday, September 4 by BMO Capital Markets. ForwardView Consulting downgraded the stock to “Speculative Buy” rating in Tuesday, February 9 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 1.3 in Q2 2016. Its up 0.01, from 1.29 in 2016Q1. The ratio is positive, 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.
D E Shaw Commerce holds 269,611 shares or 0% of its portfolio. New York State Common Retirement Fund last reported 16,300 shares in the company. Barclays Public Limited Company accumulated 53 shares or 0% of the stock. Wells Fargo And Company Mn, a California-based fund reported 5,010 shares. Massachusetts Financial Services Ma last reported 18,299 shares in the company. Zacks Inv Mgmt, a Illinois-based fund reported 25,928 shares. Vanguard Group Inc has invested 0% of its portfolio in Westmoreland Coal Company (NASDAQ:WLB). Geode Cap Mgmt Ltd Company accumulated 115,424 shares or 0% of the stock. Whittier holds 1,000 shares or 0% of its portfolio. Morgan Stanley accumulated 0% or 76,674 shares. State Board Of Administration Of Florida Retirement Systems accumulated 0% or 18,103 shares. Menta Cap Ltd Liability Corporation has 0.06% invested in the company for 42,474 shares. State Street last reported 0% of its portfolio in the stock. Comml Bank Of New York Mellon Corp holds 0% of its portfolio in Westmoreland Coal Company (NASDAQ:WLB) for 103,521 shares. Panagora Asset Mngmt Inc has 23,795 shares for 0% of their US portfolio.
More notable recent Westmoreland Coal Company (NASDAQ:WLB) news were published by: Benzinga.com which released: “Mid-Day Market Update: InspireMD Jumps Following Positive CGuard Results …” on November 01, 2016, also Seekingalpha.com with their article: “Westmoreland Coal Company: Excellent Short Candidate And Bankruptcy Protection …” published on April 20, 2016, Moodys.com published: “Moody’s downgrades Westmoreland Coal Company’s CFR to Caa1; outlook stable” on March 01, 2016. More interesting news about Westmoreland Coal Company (NASDAQ:WLB) were released by: Benzinga.com and their article: “Mid-Afternoon Market Update: Dow Falls 150 Points; Pitney Bowes Shares Down On …” published on November 01, 2016 as well as Seekingalpha.com‘s news article titled: “Westmoreland Coal Company’s (WLB) CEO Kevin Paprzycki on Q1 2016 Results …” with publication date: May 10, 2016.
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.
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