Notable Mover: Does Westmoreland Coal Company Have More Gas After Achieving 52-Week High?

Notable Mover: Does Westmoreland Coal Company Have More Gas After Achieving 52 Week High?

The stock of Westmoreland Coal Company (NASDAQ:WLB) hit a new 52-week high and has $28.36 target or 120.00% above today’s $12.89 share price. The 9 months bullish chart indicates low risk for the $297.06 million company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $28.36 price target is reached, the company will be worth $356.47 million 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 299,090 shares traded hands or 42.26% up from the average. Westmoreland Coal Company (NASDAQ:WLB) has risen 76.13% since April 5, 2016 and is uptrending. It has outperformed by 74.17% the S&P500.

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 7 analyst reports since September 1, 2015 according to StockzIntelligence Inc. BMO Capital Markets initiated Westmoreland Coal Company (NASDAQ:WLB) on Tuesday, September 1 with “Outperform” rating. The rating was downgraded by ForwardView Consulting on Tuesday, February 9 to “Speculative Buy”. The stock of Westmoreland Coal Company (NASDAQ:WLB) has “Outperform” rating given on Friday, September 18 by FBR Capital. The company was initiated on Friday, September 4 by BMO Capital Markets. Seaport Global Securities initiated it with “Buy” rating and $20.0 target price in Friday, November 4 report. The rating was maintained by FBR Capital on Thursday, October 13 with “Outperform”. The firm earned “Outperform” rating on Monday, November 16 by FBR Capital.

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 2016 Q2. Its up 0.01, from 1.29 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.
Bridgeway Capital Management has 191,600 shares for 0.03% of their US portfolio. The Maryland-based Price T Rowe Associates Md has invested 0% in Westmoreland Coal Company (NASDAQ:WLB). State Board Of Administration Of Florida Retirement Systems, a Florida-based fund reported 18,103 shares. Northern has invested 0% of its portfolio in Westmoreland Coal Company (NASDAQ:WLB). Blackrock Inv Lc last reported 0% of its portfolio in the stock. Menta Capital Lc reported 42,474 shares or 0.06% of all its holdings. The Massachusetts-based Monarch Prtnrs Asset Limited Liability has invested 0.02% in Westmoreland Coal Company (NASDAQ:WLB). Boston Prns holds 1.05M shares or 0.01% of its portfolio. Moreover, Peak6 Lp has 0% invested in Westmoreland Coal Company (NASDAQ:WLB) for 3,342 shares. Cornerstone Cap Mngmt Limited Liability Company last reported 0% of its portfolio in the stock. Altalis Capital Management Limited Com reported 168,383 shares or 1.15% of all its holdings. Moreover, Tower Rech Lc (Trc) has 0% invested in Westmoreland Coal Company (NASDAQ:WLB) for 407 shares. Massachusetts Fincl Serv Ma reported 18,299 shares or 0% of all its holdings. Rhumbline Advisers has invested 0% of its portfolio in Westmoreland Coal Company (NASDAQ:WLB). New York State Common Retirement Fund owns 16,300 shares or 0% of their US portfolio.

More important recent Westmoreland Coal Company (NASDAQ:WLB) news were published by: Seekingalpha.com which released: “Westmoreland Coal Company: Excellent Short Candidate And Bankruptcy Protection …” on April 20, 2016, also Moodys.com published article titled: “Moody’s downgrades Westmoreland Coal Company’s CFR to Caa1; outlook stable”, Seekingalpha.com published: “Westmoreland Coal Company’s (WLB) CEO Kevin Paprzycki on Q1 2016 Results …” on May 10, 2016. More interesting news about Westmoreland Coal Company (NASDAQ:WLB) was released by: Businesswire.com and their article: “Westmoreland Coal Company Appoints Gary Kohn Vice President of Investor Relations” with publication date: April 05, 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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