Westmoreland Coal Company (NASDAQ:WLB) Cut to Market Perform at BMO Capital Markets

Westmoreland Coal Company (NASDAQ:WLB) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Thursday.

Several other brokerages have also recently weighed in on WLB. FBR & Co set a $8.00 price target on Westmoreland Coal and gave the company a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded Westmoreland Coal from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, ValuEngine cut Westmoreland Coal from a “hold” rating to a “sell” rating in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Westmoreland Coal currently has a consensus rating of “Hold” and a consensus price target of $15.33.

Westmoreland Coal (NASDAQ WLB) traded down 9.11% during midday trading on Thursday, hitting $3.89. The company’s stock had a trading volume of 407,973 shares. The company’s 50-day moving average is $4.59 and its 200 day moving average is $10.74. The company’s market cap is $72.60 million. Westmoreland Coal has a one year low of $3.68 and a one year high of $19.92.

Westmoreland Coal (NASDAQ:WLB) last announced its quarterly earnings data on Thursday, August 3rd. The coal producer reported ($2.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.58) by $1.11. On average, analysts predict that Westmoreland Coal will post ($1.01) EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Gendell Jeffrey L boosted its stake in shares of 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 during the period. Vanguard Group Inc. boosted its stake in shares of Westmoreland Coal by 4.6% in the first quarter. Vanguard Group Inc. now owns 850,166 shares of the coal producer’s stock valued at $12,344,000 after buying an additional 37,373 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Westmoreland Coal by 8.7% in the first quarter. JPMorgan Chase & Co. now owns 550,006 shares of the coal producer’s stock valued at $7,986,000 after buying an additional 44,014 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Westmoreland Coal by 58.6% in the first quarter. Renaissance Technologies LLC now owns 527,500 shares of the coal producer’s stock valued at $7,659,000 after buying an additional 194,800 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Westmoreland Coal by 266.0% in the first quarter. AQR Capital Management LLC now owns 488,896 shares of the coal producer’s stock valued at $7,099,000 after buying an additional 355,331 shares during the period. Institutional investors own 74.00% of the company’s stock.

Westmoreland Coal Company 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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