Bank of Nova Scotia Takes $1.41 Million Position in Warrior Met Coal $HCC

Bank of Nova Scotia acquired a new stake in Warrior Met Coal (NYSE:HCC) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 17,362 shares of the company’s stock, valued at approximately $1,409,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HCC. BlackRock Inc. bought a new stake in shares of Warrior Met Coal in the 2nd quarter valued at $606,503,000. State Street Corp raised its stake in Warrior Met Coal by 25.2% during the second quarter. State Street Corp now owns 4,099,070 shares of the company’s stock worth $187,860,000 after buying an additional 825,807 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Warrior Met Coal by 130.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,889,025 shares of the company’s stock worth $86,574,000 after buying an additional 1,069,025 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Warrior Met Coal by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,833,578 shares of the company’s stock valued at $116,687,000 after buying an additional 5,077 shares during the period. Finally, Maple Rock Capital Partners Inc. lifted its holdings in Warrior Met Coal by 12.0% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 1,637,238 shares of the company’s stock valued at $144,355,000 after buying an additional 175,500 shares during the period. 92.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. B. Riley Financial increased their price target on Warrior Met Coal from $117.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Wall Street Zen raised Warrior Met Coal from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. UBS Group cut their target price on Warrior Met Coal from $100.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Citigroup reaffirmed a “buy” rating on shares of Warrior Met Coal in a research note on Wednesday, June 10th. Finally, Weiss Ratings upgraded Warrior Met Coal from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.60.

Insider Activity at Warrior Met Coal

In other news, insider Kelli K. Gant sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the transaction, the insider directly owned 67,775 shares of the company’s stock, valued at $7,455,250. This represents a 22.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Walter J. Scheller sold 50,000 shares of Warrior Met Coal stock in a transaction on Monday, August 24th. The shares were sold at an average price of $110.00, for a total transaction of $5,500,000.00. Following the completion of the sale, the chief executive officer directly owned 267,793 shares of the company’s stock, valued at approximately $29,457,230. The trade was a 15.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 124,800 shares of company stock valued at $13,450,304 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Warrior Met Coal Stock Down 0.1%

Shares of NYSE HCC opened at $105.15 on Thursday. The firm has a market cap of $5.55 billion, a PE ratio of 25.28 and a beta of 0.65. Warrior Met Coal has a 12-month low of $54.66 and a 12-month high of $111.20. The company’s fifty day simple moving average is $87.01 and its 200 day simple moving average is $88.76. The company has a quick ratio of 2.79, a current ratio of 3.93 and a debt-to-equity ratio of 0.10.

Warrior Met Coal (NYSE:HCC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.25. Warrior Met Coal had a net margin of 13.05% and a return on equity of 10.02%. The firm had revenue of $509.69 million during the quarter, compared to the consensus estimate of $488.46 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The business’s revenue was up 71.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Warrior Met Coal will post 5.74 earnings per share for the current fiscal year.

Warrior Met Coal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Warrior Met Coal’s payout ratio is presently 7.69%.

Warrior Met Coal Profile

Warrior Met Coal (NYSE: HCC) is a leading producer of premium metallurgical coal, operating deep underground mining complexes in Central Alabama’s Blue Creek and Brookwood mining districts. The company focuses exclusively on the extraction and sale of high-grade hard coking coal, a critical raw material used in steel production. Its mining operations harness longwall mining technology and rigorous safety protocols to deliver consistent coal quality to customers worldwide.

Warrior Met Coal’s product portfolio centers on premium hard coking coal, semisoft coking coal, and pulverized coal injection (PCI) products.