China’s Yanzhou Coal Mining Co Ltd (ADR) (NYSE:YZC) has abandoned plans for a buyout of Yancoal Australia Ltd. (YAL.AU), the Australian-listed coal producer said Monday. “Yanzhou today notified Yancoal that [it] no longer wishes to pursue with its indicative non‐binding proposal regarding the possible privatization of Yancoal Australia,” Yancoal said in a statement to the Australian Securities Exchange, without elaborating further. The planned deal was announced last July and would have seen Yanzhou buy out minority investors in the unit–in which it holds a 78% stake–and delist the stock. Yanzhou Coal Mining Co Ltd (ADR) (NYSE:YZC) shares after opening at $7.05 on last trade day and at the end of the day closed at $7.75. Company price to sales ratio in past twelve months was calculated as 0.43 and price to cash ratio as 2.30. Yanzhou Coal Mining Co Ltd (ADR) (NYSE:YZC) showed a positive weekly performance of 14.31%.
W&T Offshore, Inc. (NYSE: WTI) announced that the Company will be participating in the Howard Weil Energy Conference to be held from March 23-27, 2014 in New Orleans. Tracy Krohn, W&T’s Chairman and CEO, is scheduled to make a presentation on Tuesday, March 25th at 3:20 p.m. Central Time. W&T Offshore, Inc. (NYSE:WTI) shares advanced 5.10% in last trading session and ended the day on $16.89. WTI return on equity ratio is recorded as 19.90% and its return on assets is 4.70%. W&T Offshore, Inc. (NYSE:WTI) yearly performance is 22.30%.
Shareholder rights law firm Robbins Arroyo LLP announces that an investor of Hyperdynamics Corporation (NYSE: HDY) has filed a federal securities fraud class action complaint in the U.S. District Court for the Southern District of Texas. The complaint alleges that the company and certain of its officers and directors violated the Securities and Exchange Act of 1934 between November 8, 2012 and March 11, 2014 (the “Class Period”). Hyperdynamics is an independent oil and gas exploration company engaged in the acquisition, exploration, and development of oil and gas properties in the Republic of Guinea, Northwest Africa. Hyperdynamics Corporation (NYSE:HDY) shares moved up 5.03% in last trading session and was closed at $2.09, while trading in range of $1.94 – $2.09. Hyperdynamics Corporation (NYSE:HDY) year to date (YTD) performance is -48.65%.
Westmoreland Coal (NYSE:WLB) major shareholder Jeffrey Et Al Gendell sold 75,000 shares of the company’s stock on the open market in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $26.04, for a total transaction of $1,953,000.00. Westmoreland Coal Company (NASDAQ:WLB) weekly performance is 19.18%. On last trading day company shares ended up $28.03. Westmoreland Coal Company (NASDAQ:WLB) distance from 50-day simple moving average (SMA50) is 27.37%. Analysts mean target price for the company is $20.25.