Westmoreland Coal Co. (NASDAQ:WLB) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

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. “

Other analysts also recently issued research reports about the company. FBR & Co reaffirmed a “buy” rating on shares of Westmoreland Coal in a research note on Thursday, August 4th. BMO Capital Markets reaffirmed a “buy” rating and set a $8.00 target price on shares of Westmoreland Coal in a research note on Wednesday, August 3rd.

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Westmoreland Coal (NASDAQ:WLB) traded up 2.16% during mid-day trading on Tuesday, hitting $8.99. The company had a trading volume of 9,316 shares. Westmoreland Coal has a one year low of $3.44 and a one year high of $12.97. The company’s market cap is $166.94 million. The company’s 50 day moving average price is $8.74 and its 200-day moving average price is $8.49.

Westmoreland Coal (NASDAQ:WLB) last announced its earnings results on Tuesday, August 2nd. The company reported ($1.37) earnings per share for the quarter, missing the consensus estimate of ($0.26) by $1.11. The business earned $356.20 million during the quarter, compared to analysts’ expectations of $352.90 million. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Westmoreland Coal will post $1.66 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Chou Associates Management Inc. purchased a new stake in Westmoreland Coal during the first quarter worth approximately $147,161,000. GSA Capital Partners LLP bought a new stake in shares of Westmoreland Coal during the second quarter worth about $370,000. Emerald Acquisition Ltd. bought a new stake in shares of Westmoreland Coal during the second quarter worth about $3,040,000. Acrospire Investment Management LLC bought a new stake in shares of Westmoreland Coal during the second quarter worth about $204,000. Finally, Monarch Partners Asset Management LLC raised its stake in shares of Westmoreland Coal by 11.1% in the second quarter. Monarch Partners Asset Management LLC now owns 20,990 shares of the company’s stock worth $200,000 after buying an additional 2,090 shares during the period. 66.65% of the stock is currently owned by institutional investors.

Westmoreland Coal Company Profile

Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico.

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