Warrior Met Coal Llc (HCC) Gets a Hold Rating from B.Riley FBR

By Carrie Williams

B.Riley FBR analyst Lucas Pipes maintained a Hold rating on Warrior Met Coal Llc (HCCResearch Report) today and set a price target of $35. The company’s shares closed yesterday at $24.69.

Pipes commented:

“the close, Warrior Met Coal (HCC-Neutral, $35 PT) reported 2Q19 adjusted EBITDA of $175.9M, well above consensus’ $141M. It was a very strong quarter operationally for HCC, including record quarterly sales volumes of 2.24M short tons (vs. our 1.91M short tons estimate). Compared to our estimates, the beat was primarily attributed to the stronger-than- expected volumes, as well as costs/short ton of $91.30, below our $93.63 estimate. As a result of the strong quarter, HCC raised its full-year production and sales guidance to 7.5M-7.9M short tons (from 7.1M-7.5M short tons). In addition, management provided an update regarding the company’s evaluation of the Blue Creek growth project.”

According to TipRanks.com, Pipes is a 1-star analyst with an average return of -1.6% and a 43.1% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Novagold Resources Inc New, and Covia Holdings Corporation.

Warrior Met Coal Llc has an analyst consensus of Moderate Buy, with a price target consensus of $36.

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Based on Warrior Met Coal Llc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $110 million. In comparison, last year the company had a net profit of $91.31 million.

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Warrior Met Coal, Inc engages in the production and export of metallurgical coal. The firm extracts methane gas from the Blue Creek coal seam. It also sells natural gas, which is extracted as a byproduct from coal production. The company was founded on September 3, 2015 and is headquartered in Brookwood, AL.