Warrior Met Coal Inc.’s Lock-Up Period Set To End on October 10th (NYSE:HCC)
Warrior Met Coal’s (NYSE:HCC) lock-up period is set to end on Tuesday, October 10th. Warrior Met Coal had issued 16,666,667 shares in its initial public offering on April 13th. The total size of the offering was $316,666,673 based on an initial share price of $19.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.
A number of research firms have issued reports on HCC. Zacks Investment Research cut shares of Warrior Met Coal from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Morgan Stanley cut shares of Warrior Met Coal from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $27.00 to $17.00 in a report on Tuesday, June 27th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $25.00 price target on shares of Warrior Met Coal in a report on Tuesday, June 13th. MKM Partners reaffirmed a “neutral” rating and issued a $21.00 price target (up previously from $18.00) on shares of Warrior Met Coal in a report on Thursday, August 24th. Finally, FBR & Co raised their price target on shares of Warrior Met Coal from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Warrior Met Coal currently has an average rating of “Hold” and a consensus target price of $25.64.
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Shares of Warrior Met Coal (HCC) opened at 23.88 on Thursday. The firm has a market cap of $1.28 billion and a price-to-earnings ratio of 0.38. Warrior Met Coal has a 1-year low of $15.10 and a 1-year high of $27.62. The stock has a 50 day moving average of $24.99 and a 200-day moving average of $20.59.
Warrior Met Coal (NYSE:HCC) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.59. The company had revenue of $363.37 million for the quarter, compared to analysts’ expectations of $321.75 million. Equities analysts anticipate that Warrior Met Coal will post $4.08 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in HCC. Skylands Capital LLC purchased a new stake in Warrior Met Coal in the 2nd quarter valued at $2,870,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in Warrior Met Coal in the 2nd quarter valued at $4,256,000. Schwab Charles Investment Management Inc. purchased a new stake in Warrior Met Coal in the 2nd quarter valued at $1,074,000. First Mercantile Trust Co. purchased a new stake in Warrior Met Coal in the 2nd quarter valued at $131,000. Finally, Rhumbline Advisers purchased a new stake in Warrior Met Coal in the 2nd quarter valued at $343,000. Hedge funds and other institutional investors own 97.25% of the company’s stock.
About Warrior Met Coal
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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