Warrior Met Coal Inc. (NYSE:HCC) has been assigned a $26.00 price target by equities researchers at FBR & Co in a note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the stock. FBR & Co’s price target indicates a potential upside of 10.50% from the stock’s previous close.
The analysts wrote, “This morning, 10/17, MSHA released Warrior’s most critical MSHA number for 3Q17, reporting production for Mine No. 7. HCC beat our production estimates, having produced 1.14 million short tons at Mine No. 7 and 0.48 million short tons at Mine No. 4 (as previously reported). Production decreased at both mines compared to the prior quarter. Mine No. 7 output declined 250,000 short tons QoQ and Mine No. 4 output declined 36,000 short tons QoQ. Although production was slightly higher than we expected (by about 100,000 short tons), our estimates had been the low on the Street and the reported MSHA production makes a major Q3 beat less likely, in our opinion. Possible positive surprises could still occur from the sale of lower-cost inventories, stronger sales on destocking, and sales price realizations. We assume that the company destocks about 140,000 short tons but that costs per ton still rise as new hires raise the overall cost basis. Lastly, we tweaked our sales price realizations higher to $163/Mt, which would be 96% of the Q3 lagged benchmark index.””
Several other equities research analysts have also commented on HCC. Royal Bank Of Canada set a $27.00 price target on Warrior Met Coal and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Citigroup Inc. upped their price target on Warrior Met Coal from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 26th. Zacks Investment Research upgraded Warrior Met Coal from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Monday. MKM Partners restated a “neutral” rating and set a $21.00 price target (up from $18.00) on shares of Warrior Met Coal in a research note on Thursday, August 24th. Finally, Macquarie assumed coverage on Warrior Met Coal in a research note on Thursday, September 7th. They set an “underperform” rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.45.
Shares of Warrior Met Coal (NYSE:HCC) traded up 1.83% during mid-day trading on Tuesday, hitting $23.96. The company’s stock had a trading volume of 623,100 shares. The stock has a 50-day moving average of $24.68 and a 200-day moving average of $20.66. The company has a market cap of $1.28 billion and a PE ratio of 0.38. Warrior Met Coal has a 12-month low of $15.10 and a 12-month 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 the Thomson Reuters’ consensus estimate of $1.93 by $0.59. The firm had revenue of $363.37 million for the quarter, compared to analyst estimates of $321.75 million. On average, equities research analysts forecast that Warrior Met Coal will post $4.08 EPS for the current year.
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Several hedge funds have recently bought and sold shares of the company. Apollo Management Holdings L.P. acquired a new stake in shares of Warrior Met Coal in the second quarter valued at about $173,185,000. Franklin Resources Inc. acquired a new stake in shares of Warrior Met Coal in the second quarter valued at about $82,178,000. Caspian Capital LP acquired a new stake in shares of Warrior Met Coal in the second quarter valued at about $37,651,000. Capital World Investors acquired a new stake in shares of Warrior Met Coal in the second quarter valued at about $25,953,000. Finally, Impala Asset Management LLC acquired a new stake in shares of Warrior Met Coal in the second quarter valued at about $21,590,000. Institutional investors and hedge funds own 97.25% of the company’s stock.
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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