Zacks Investment Research cut shares of Westmoreland Coal Company (NASDAQ:WLB) from a hold rating to a strong sell rating in a research note released on Thursday.

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. “

A number of other brokerages have also recently commented on WLB. FBR & Co raised their price target on shares of Westmoreland Coal from $8.00 to $17.00 and gave the stock an outperform rating in a research note on Friday, June 23rd. ValuEngine cut shares of Westmoreland Coal from a hold rating to a sell rating in a research note on Wednesday, May 17th. Finally, BMO Capital Markets cut shares of Westmoreland Coal from an outperform rating to a market perform rating and cut their price target for the stock from $18.00 to $5.00 in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $11.00.

Westmoreland Coal (NASDAQ WLB) opened at 2.24 on Thursday. The company’s 50-day moving average price is $3.48 and its 200-day moving average price is $8.94. The stock’s market cap is $41.98 million. Westmoreland Coal has a 1-year low of $1.88 and a 1-year high of $19.92.

Westmoreland Coal (NASDAQ:WLB) last announced its quarterly earnings results on Thursday, August 3rd. The coal producer reported ($2.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.58) by $1.11. The business had revenue of $323.03 million for the quarter, compared to analysts’ expectations of $320.85 million. Analysts predict that Westmoreland Coal will post ($4.32) EPS for the current year.

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Hedge funds have recently bought and sold shares of the company. Western Standard LLC purchased a new stake in Westmoreland Coal during the second quarter valued at $123,000. Alliancebernstein L.P. raised 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 buying an additional 7,200 shares during the last quarter. American International Group Inc. raised its stake in Westmoreland Coal by 7.1% in the first quarter. American International Group Inc. now owns 11,341 shares of the coal producer’s stock valued at $165,000 after buying an additional 751 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in Westmoreland Coal by 166.7% in the second quarter. Tudor Investment Corp ET AL now owns 38,012 shares of the coal producer’s stock valued at $185,000 after buying an additional 23,758 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its stake in Westmoreland Coal by 4.3% in the first quarter. OppenheimerFunds Inc. now owns 13,899 shares of the coal producer’s stock valued at $202,000 after buying an additional 579 shares during the last quarter. 74.65% of the stock is owned by institutional investors.

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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