On the New York Stock Exchange, shares of companies are soaring. Not every stock, of course, but a decent handful—from Callaway Golf Co to Westmoreland Resource Partners. However, we’re going to focus on the latter. Why? Because the Westmoreland earnings report is coming out at market close.
Westmoreland Earnings Report: Stock Up Over 100%
Over the past few weeks, the market has been consumed by earnings reports. Some companies plunged after reporting them (such as Facebook), while others soared.
It can go either way for the Ohio-based company but based on the movement of the WMLP stock today, I would say good things are expected.
At market close, Westmoreland is forecasted to announce its quarter two earnings report. That’s still a few hours away, but questions are running loose in investors’ minds: is revenue going to skyrocket? Will earnings per share beat expectations?
We won’t know until around 4:00 p.m. EDT, but that’s not stopping investors from charging the stock.
Stock Price (NYSE:WMLP)
According to Yahoo Finance, as of 1:51 p.m. EDT, Westmoreland Resource Partners is up 115.36%.
Personally, I’m looking forward to seeing two things as the afternoon progresses. First, whether Westmoreland can close up more than 120%, and two: will the stock move higher in after-hours trade, or will it drop, like what happened to Facebook?
The Company
If you’re a stock market investor and seeing the WMLP surge today interested you in the company, here’s what you have to know about it:
Headquartered in Ohio, Westmoreland Resource produces thermal coal in the United States. Alongside its subsidiaries, it also markets the thermal coal and produces surface mined coal.
The company has mines in different locations in the United States, with one Wyoming-based surface mine, and four active Ohio-based mining complexes.
The Takeaway
A surge this high ahead of an earnings report indicates good things, so keep an eye out for it at market close.
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