Westmoreland Coal (NASDAQ:WLB)’s share price dropped 6.3% during trading on Thursday . The stock traded as low as $0.29 and last traded at $0.30. Approximately 662,037 shares changed hands during trading, a decline of 2% from the average daily volume of 675,513 shares. The stock had previously closed at $0.32.
WLB has been the subject of several recent analyst reports. ValuEngine raised shares of Westmoreland Coal from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Zacks Investment Research raised shares of Westmoreland Coal from a “sell” rating to a “hold” rating in a research note on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Westmoreland Coal presently has a consensus rating of “Hold” and a consensus target price of $6.00.
The company has a market capitalization of $6.50, a PE ratio of -0.08 and a beta of 1.00. The company has a debt-to-equity ratio of -0.09, a quick ratio of 0.19 and a current ratio of 0.27.
Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning increased its stake in shares of Westmoreland Coal by 169.2% during the fourth quarter. Creative Planning now owns 130,016 shares of the coal producer’s stock valued at $157,000 after purchasing an additional 81,710 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Westmoreland Coal during the third quarter valued at approximately $531,000. Russell Investments Group Ltd. increased its stake in shares of Westmoreland Coal by 15.4% during the third quarter. Russell Investments Group Ltd. now owns 211,862 shares of the coal producer’s stock valued at $540,000 after purchasing an additional 28,300 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Westmoreland Coal by 21.6% during the third quarter. Dimensional Fund Advisors LP now owns 334,645 shares of the coal producer’s stock valued at $853,000 after purchasing an additional 59,478 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Westmoreland Coal by 168.2% during the fourth quarter. Millennium Management LLC now owns 478,863 shares of the coal producer’s stock valued at $579,000 after purchasing an additional 300,300 shares in the last quarter. 50.96% of the stock is owned by institutional investors.
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Westmoreland Coal Company Profile
Westmoreland Coal Company, through its subsidiaries, operates as an energy company. The company operates through Coal – U.S., Coal – Canada, Coal – WMLP, and Power segments. It produces and sells sub-bituminous coal and lignite to power plants. The company owns and operates coal mines in Montana, North Dakota, Ohio, and Texas, the United States; and Alberta and Saskatchewan, Canada.
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