Warrior Met Coal Inc. (HCC) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Warrior Met Coal Inc. (NYSE:HCC) from a buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Warrior Met Coal, Inc. is a producer and exporter of premium metallurgical coal. It operates primarily in Alabama. Warrior Met Coal, Inc. is based in Brookwood, United States. “
HCC has been the subject of a number of other research reports. Morgan Stanley began coverage on Warrior Met Coal in a research note on Monday, May 15th. They issued an overweight rating and a $27.00 price target for the company. Royal Bank Of Canada reiterated a buy rating and issued a $25.00 price target on shares of Warrior Met Coal in a research note on Tuesday, June 13th. MKM Partners reiterated a neutral rating and issued a $21.00 price target (up previously from $18.00) on shares of Warrior Met Coal in a research note on Thursday, August 24th. Credit Suisse Group began coverage on Warrior Met Coal in a research note on Monday, May 15th. They issued an outperform rating and a $26.00 price target for the company. Finally, Citigroup Inc. began coverage on Warrior Met Coal in a research note on Monday, May 8th. They issued a neutral rating and a $20.00 price target for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Warrior Met Coal presently has an average rating of Buy and a consensus price target of $23.70.
Shares of Warrior Met Coal (NYSE HCC) opened at 27.07 on Tuesday. The stock’s 50 day moving average price is $21.99 and its 200-day moving average price is $19.33. The company has a market capitalization of $1.45 billion and a P/E ratio of 6.06. Warrior Met Coal has a 52-week low of $15.10 and a 52-week high of $27.16.
Warrior Met Coal (NYSE:HCC) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $2.52 EPS for the quarter, topping the consensus estimate of $1.93 by $0.59. The company had revenue of $363.37 million during the quarter, compared to analysts’ expectations of $321.75 million. On average, equities analysts expect that Warrior Met Coal will post $4.08 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Monday, August 14th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Thursday, August 10th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCC. Evergreen Capital Management LLC bought a new position in Warrior Met Coal during the second quarter valued at approximately $3,127,000. Skylands Capital LLC bought a new position in Warrior Met Coal during the second quarter valued at approximately $2,870,000. Jennison Associates LLC bought a new position in Warrior Met Coal during the second quarter valued at approximately $18,081,000. Gilder Gagnon Howe & Co. LLC bought a new position in Warrior Met Coal during the second quarter valued at approximately $4,256,000. Finally, Frontier Capital Management Co. LLC bought a new position in Warrior Met Coal during the second quarter valued at approximately $10,990,000. 96.71% of the stock is owned by institutional investors and hedge funds.
About Warrior Met Coal
Warrior Met Coal, Inc, formerly Warrior Met Coal, LLC, is a producer and exporter of metallurgical coal for the steel industry from underground mines located in Brookwood, Alabama, southwest of Birmingham and near Tuscaloosa. These underground coalmines are 1,400 to 2,100 feet underground. Its operations serve markets in the United States, Europe, Asia and South America via barge and rail access to the Port of Mobile.
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