Westmoreland Coal (WLB) Shares Up 21.1%

Westmoreland Coal (NASDAQ:WLB)’s share price shot up 21.1% on Tuesday . The stock traded as high as $0.70 and last traded at $0.69. 1,006,239 shares were traded during mid-day trading, an increase of 137% from the average session volume of 423,845 shares. The stock had previously closed at $0.57.

Several brokerages recently weighed in on WLB. Zacks Investment Research upgraded Westmoreland Coal from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 2nd. B. Riley restated a “buy” rating on shares of Westmoreland Coal in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Westmoreland Coal has a consensus rating of “Hold” and a consensus target price of $6.00.

The company has a current ratio of 1.04, a quick ratio of 0.71 and a debt-to-equity ratio of -1.32. The stock has a market cap of $10.66, a P/E ratio of -0.09 and a beta of 0.48.

Institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. increased its stake in Westmoreland Coal by 53.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 56,152 shares of the coal producer’s stock worth $274,000 after buying an additional 19,500 shares in the last quarter. Alliancebernstein L.P. increased its stake in Westmoreland Coal by 35.6% during the 2nd quarter. Alliancebernstein L.P. now owns 27,400 shares of the coal producer’s stock worth $133,000 after buying an additional 7,200 shares in the last quarter. Teachers Advisors LLC increased its stake in Westmoreland Coal by 9.2% during the 2nd quarter. Teachers Advisors LLC now owns 77,144 shares of the coal producer’s stock worth $376,000 after buying an additional 6,478 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Westmoreland Coal by 29.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 129,719 shares of the coal producer’s stock worth $632,000 after buying an additional 29,462 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Westmoreland Coal by 4.6% during the 2nd quarter. Northern Trust Corp now owns 211,804 shares of the coal producer’s stock worth $1,032,000 after buying an additional 9,401 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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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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