Westmoreland Coal (WLB) Upgraded at Zacks Investment Research
Westmoreland Coal (NASDAQ:WLB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Separately, ValuEngine raised shares of Westmoreland Coal from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Westmoreland Coal presently has an average rating of “Hold” and an average price target of $6.00.
Several large investors have recently modified their holdings of the company. Millennium Management LLC boosted its holdings in shares of Westmoreland Coal by 168.2% in the fourth quarter. Millennium Management LLC now owns 478,863 shares of the coal producer’s stock valued at $579,000 after acquiring an additional 300,300 shares in the last quarter. Creative Planning lifted its stake in shares of Westmoreland Coal by 169.2% in 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 during the period. Mangrove Partners lifted its stake in shares of Westmoreland Coal by 19.1% in the third quarter. Mangrove Partners now owns 992,251 shares of the coal producer’s stock valued at $2,530,000 after purchasing an additional 158,906 shares during the period. Western Standard LLC lifted its stake in shares of Westmoreland Coal by 996.0% in the third quarter. Western Standard LLC now owns 276,185 shares of the coal producer’s stock valued at $704,000 after purchasing an additional 250,985 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Westmoreland Coal by 21.6% in 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 during the period. 51.04% of the stock is currently owned by institutional investors and hedge funds.
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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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