Warrior Met Coal Target of Unusually Large Options Trading (HCC)
Warrior Met Coal Inc (NYSE:HCC) was the recipient of some unusual options trading activity on Tuesday. Investors bought 529 call options on the stock. This represents an increase of 845% compared to the typical daily volume of 56 call options.
Several analysts have recently commented on HCC shares. Credit Suisse Group raised their price objective on shares of Warrior Met Coal from $30.57 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, May 3rd. MKM Partners raised their price objective on shares of Warrior Met Coal to $29.00 in a research report on Wednesday, May 16th. Zacks Investment Research downgraded shares of Warrior Met Coal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 29th. Morgan Stanley raised their price objective on shares of Warrior Met Coal from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, June 29th. Finally, Citigroup raised their price objective on shares of Warrior Met Coal from $25.87 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Warrior Met Coal presently has a consensus rating of “Hold” and a consensus target price of $29.20.
Shares of NYSE HCC opened at $24.16 on Wednesday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.02 and a current ratio of 2.53. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 3.06 and a beta of 0.95. Warrior Met Coal has a 52-week low of $18.56 and a 52-week high of $33.72.
The business also recently declared a quarterly dividend, which was paid on Friday, August 10th. Shareholders of record on Friday, August 3rd were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 0.83%. Warrior Met Coal’s dividend payout ratio is currently 2.53%.
Warrior Met Coal announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 2nd that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Warrior Met Coal by 16.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 466,406 shares of the company’s stock valued at $12,859,000 after acquiring an additional 66,524 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Warrior Met Coal by 24.7% in the 2nd quarter. Jane Street Group LLC now owns 15,762 shares of the company’s stock worth $435,000 after buying an additional 3,117 shares during the last quarter. Platinum Investment Management Ltd. bought a new stake in shares of Warrior Met Coal in the 2nd quarter worth about $1,348,000. Macquarie Group Ltd. increased its holdings in shares of Warrior Met Coal by 36.1% in the 2nd quarter. Macquarie Group Ltd. now owns 16,200 shares of the company’s stock worth $447,000 after buying an additional 4,300 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Warrior Met Coal by 365.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 153,899 shares of the company’s stock worth $4,243,000 after buying an additional 120,799 shares during the last quarter.
About Warrior Met Coal
Warrior Met Coal, Inc produces and exports metallurgical coal for the steel industry. It operates two underground mines located in Alabama. The company sells its metallurgical coal to a customer base of blast furnace steel producers located primarily in Europe, South America, and Asia. It also sells natural gas, which is extracted as a byproduct from coal production.
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