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Westmoreland Coal Co. - Shareholder/Analyst CallMay. 21, 2013
Business Wire (Apr 11, 2014)
Business Wire (Mar 27, 2014)
Business Wire (Mar 7, 2014)
Business Wire (Feb 21, 2014)
Business Wire (Feb 10, 2014)
Westmoreland Announces Closing of Senior Notes Offering; Successfully Completes Consent SolicitationBusiness Wire (Feb 7, 2014)
Westmoreland Announces Pricing of $425 Million Offering of Add-On 10.75% Senior Secured Notes due 2018Business Wire (Jan 29, 2014)
Business Wire (Jan 24, 2014)
Business Wire (Jan 22, 2014)
WLB vs. ETF Alternatives
Thursday, Apr 1710:39 AM
Thursday, Apr 1710:39 AM| 1 Comment
- Cloud Peak Energy (CLD -1.5%) is "a good stock in a dirty business," Barron's says in making the case for a potential 30% upside in what it sees as undervalued shares, but CLD isn't enjoying the usual Barron's bounce.
- CLD trades at a discount to its larger peers despite its clean balance sheet and improving free cash flow profile, and a rise in thermal coal prices could have a dramatic impact on profits and the stock; every $1/ton increase in the Powder River spot price adds ~$46M to CLD's EBITDA.
- Most other coal names also are lower: BTU -1.5%, CNX -0.3%, ACI +0.2%, ANR -1.3%, WLT -2.1%, WLB -0.1%.
Tuesday, Apr 152:26 PM
Tuesday, Apr 152:26 PM| 34 Comments
- The D.C. Court of Appeals upholds EPA regulations requiring power plants to limit emissions hazardous air pollutants, siding with the EPA's determination that its regulations were appropriate and necessary.
- The 2-1 court majority rejects arguments the agency should have considered the costs of its regulations before moving forward, while the dissenting judge warns the costs of the EPA regulations would amount to more than $9B/year.
- Related tickers: KOL, BTU, WLT, CNX, ACI, ANR, JRCC, YZC, PCXCQ, ARLP, NRP, PVR, PVA, OXF, CLD, WLB
Tuesday, Apr 810:42 AM
Tuesday, Apr 810:42 AM| 29 Comments
- Consol Energy's (CNX +3.6%) upgraded coal outlook is lifting coal names higher across the board: ANR +9.2%, WLT +7.4%, ACI +5.6%, YZC +5.2%, BTU +3.8%, WLB +3.1%, OXF +3%, CLD +2%, KOL +1.9%.
- Stifel raises its CNX target price to $46 from $45, reflecting the strong market for northern Appalachian thermal coal, offsetting a weaker pricing and volume outlook for met coal (Briefing.com).
Wednesday, Apr 23:58 PM
Wednesday, Apr 23:58 PM| 5 Comments
- Coal stocks are higher after the head of BHP Billiiton's (BHP +0.9%) coal division said he expects world demand for coal to increase for decades to come, and that most demand growth for coal will come from outside China, which has been the primary driver of global commodity prices in recent years.
- The BHP exec also noted that coal demand in Europe is rising as nuclear plants are set to shut down and countries reduce their imports on Russian energy.
- The Market Vectors Coal ETF (KOL +0.7%) has gained 3.2% over the past week and is trading above its 200-day moving average, but the ETF is still down 4.2% YTD.
- JRCC +20.5%, OXF +4.5%, WLT +2.2%, CNX +2.1%, CLD +2%, ANR +1.9%, BTU +1.4%, YZC +0.6%, ACI -0.2%, WLB -1.2%.
Tuesday, Feb 412:48 PM
Tuesday, Feb 412:48 PM| 2 Comments
- Arch Coal (ACI +2%) shares turn green after management makes positive comments about the thermal coal market during this morning's earnings call.
- ACI reported a larger than expected Q4 loss, but expects U.S. thermal coal markets to tighten further this year, as several factors including favorable weather trends, healthier economic activity and elevated natural gas prices should ensure that the prices of most U.S. thermal coal is competitive.
- The same can't be said for metallurgical coal, as overseas markets remain weak, ACI says, but production of higher cost met coal would ease and cause markets to tighten in the future.
- Other coal miners also are higher: CLD +3.9%, WLT +3.7%, WLB +3.4%, ANR +2.6%, RNO +2.1%, CNX +1.5%, BTU +0.2%.
Wednesday, Jan 225:40 PM|Wednesday, Jan 225:40 PM| Comment!
Monday, Dec 302013, 2:47 PM
Monday, Dec 302013, 2:47 PM| Comment!
- Westmoreland Coal (WLB +4.8%) is initiated with a Buy rating and a $22 price target at Brean Capital, which sees WLB as an attractive cash-flow story that provides investors with unique exposure to the North American thermal coal space.
- With steady demand from baseload power plants and west coast export optionality, the analysts believe WLB provides investors with attractive and consistent positive cash flows of ~$100M unlevered free cash flow annually, despite tough times across the industry.
- WLB's deal last week to acquire Sherritt's Canadian coal assets in Alberta and Saskatchewan will make it the sixth largest coal producer in North America, with annualized EBITDA of $200M, the firm estimates.
Friday, Dec 272013, 8:38 AM|Friday, Dec 272013, 8:38 AM| Comment!
Tuesday, Dec 242013, 11:15 AM|Tuesday, Dec 242013, 11:15 AM| Comment!
Tuesday, Dec 242013, 7:37 AM
Tuesday, Dec 242013, 7:37 AM| Comment!
- Westmoreland Coal (WLB) agrees to acquire coal mining operations from Sherritt International (SHERF) for ~C$465M.
- The operations include seven producing thermal coal mines in Alberta and Saskatchewan, a 50% interest in an activated carbon plant and a char production facility which sells to barbeque briquette producers.
- Sherritt's annual coal output of ~27M tons doubles WLB's production.
- Sherritt also is selling its Canadian coal and potash royalty business to a group led by Altius Minerals for C$481M.
Tuesday, Dec 102013, 6:50 PM
Tuesday, Dec 102013, 6:50 PM| 19 Comments
- Supreme Court justices today expressed sympathy for the EPA’s approach to air pollution that crosses state lines.
- The rule that would curb emissions from coal-fired power plants in 28 states - struck down by the D.C. Circuit Court of Appeals and being tested by power companies, states and miners - has never taken effect, but it would force companies to either shutter old plants or invest billions of dollars in pollution-control technology.
- The court’s four Democrat appointees, at times joined by Chief Justice Roberts and Justice Kennedy, suggested the EPA had adhered to the language of the Clean Air Act; only Justice Scalia seemed convinced the rule could be unfair to some states.
- ETFs: KOL, XLU, IDU, VPU, RYU, PUI, UPW, FXU, SDP, PSCU, FUTY, UTLT.
- Coal names: PCXCQ, BTU, WLT, CNX, ACI, ANR, JRCC, YZC, ARLP, AHGP, NRP, PVR, PVG, PVA, OXF, CLD, WLB, RNO.
Friday, Oct 252013, 7:42 AM
Thursday, Aug 222013, 12:59 PM
Thursday, Aug 222013, 12:59 PM| 9 Comments
- Peabody Energy (BTU +5.3%) and Consol (CNX +4.2%) help push the coal sector (KOL +4.5%) to the top of today's gainers, buoyed by signs of a manufacturing recovery in China.
- Other coal names: PCXCQ.OB +11.2%, YZC +7.7%, WLT +6.5%, ACI +6%, JRCC +5.6%, ANR +5.2%, CLD +3.9%, WLB +2.2%, NRP +1.6%, OXF +0.8%.
Wednesday, Nov 212012, 4:12 AMJapan's Kansai Electric Power and Kyushu Electric Power agree to acquire 1M tons of low-sulphur high quality U.S. coal from Oxbow Carbon in a one-year deal. The contract comes as Japan's nuclear reactors remain closed following last year's Fukushima disaster. The prospect of selling more coal to Japan could boost the U.S.'s beleaguered coal sector, with stocks that might be worth watching today including BTU, ACI, RNO, OXF, JRCC, CNX, WLT, ANR, WLB and PCXCQ.PK. |Wednesday, Nov 212012, 4:12 AM| Comment!
Friday, Oct 262012, 2:51 PMWestmoreland Coal (WLB +5.2%) is upgraded to Outperform with a new target price of $13 from $7 at Imperial Capital based on higher expected Ebitda on cost reduction, execution of its Kemmerer acquisition and free cash flow yield. WLB's Q3 results released yesterday showed significantly improved coal segment results. |Friday, Oct 262012, 2:51 PM| Comment!
Tuesday, Aug 212012, 12:25 PMCoal producers (KOL +1.4%) show strength on news the U.S. Court of Appeals for the D.C. Circuit has put on hold an EPA rule over limits on sulfur dioxide and nitrogen oxide emissions. The decision sends the rule back to the agency for revision. ANR +8%, JRCC +5.4%, BTU +4.8%, WLB +4.7%, CNX +2.2%, ACI +2%, CLD +2%. |Tuesday, Aug 212012, 12:25 PM| 36 Comments
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