JPMorgan Chase & Co. Invests $6.25 Million in Warrior Met Coal Inc. (HCC)
JPMorgan Chase & Co. bought a new position in shares of Warrior Met Coal Inc. (NYSE:HCC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 364,856 shares of the company’s stock, valued at approximately $6,250,000. JPMorgan Chase & Co. owned about 0.68% of Warrior Met Coal as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Skylands Capital LLC acquired a new position in shares of Warrior Met Coal during the second quarter worth $2,870,000. Gilder Gagnon Howe & Co. LLC bought a new position in Warrior Met Coal in the second quarter valued at about $4,256,000. Schwab Charles Investment Management Inc. bought a new position in Warrior Met Coal in the second quarter valued at about $1,074,000. First Mercantile Trust Co. bought a new position in Warrior Met Coal in the second quarter valued at about $131,000. Finally, Rhumbline Advisers bought a new position in Warrior Met Coal in the second quarter valued at about $343,000. 97.25% of the stock is currently owned by hedge funds and other institutional investors.
Warrior Met Coal Inc. (NYSE HCC) opened at 24.29 on Wednesday. The firm has a market cap of $1.30 billion and a P/E ratio of 0.39. The company’s 50 day moving average is $24.99 and its 200-day moving average is $20.56. Warrior Met Coal Inc. has a 52-week low of $15.10 and a 52-week high of $27.62.
Warrior Met Coal (NYSE:HCC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.59. The business had revenue of $363.37 million during the quarter, compared to analysts’ expectations of $321.75 million. On average, equities analysts predict that Warrior Met Coal Inc. will post $4.08 EPS for the current fiscal year.
Several brokerages have issued reports on HCC. Royal Bank Of Canada restated a “buy” rating and issued a $25.00 price target on shares of Warrior Met Coal in a research report on Tuesday, June 13th. Morgan Stanley cut shares of Warrior Met Coal from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $27.00 to $17.00 in a research note on Tuesday, June 27th. Zacks Investment Research cut shares of Warrior Met Coal from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. MKM Partners initiated coverage on Warrior Met Coal in a report on Wednesday, July 12th. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, FBR & Co raised their target price on Warrior Met Coal from $20.00 to $21.00 and gave the stock a “mkt perform” rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.64.
Warrior Met Coal Company Profile
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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