Romaco Resourcs (NASDAQ:METC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, October 18th.
According to Zacks, “Ramaco Resources, Inc. is an operator and developer of high-quality, low cost metallurgical coal in central and southern West Virginia, southwestern Virginia and southwestern Pennsylvania. Ramaco Resources, Inc. is headquartered in Lexington, Kentucky. “
Several other equities research analysts also recently issued reports on METC. BMO Capital Markets set a $11.00 price target on Romaco Resourcs and gave the stock a “buy” rating in a report on Monday, August 14th. ValuEngine cut Romaco Resourcs from a “hold” rating to a “sell” rating in a report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Romaco Resourcs has a consensus rating of “Buy” and an average price target of $14.60.
Romaco Resourcs (METC) traded down $0.11 during mid-day trading on Wednesday, reaching $5.98. The company had a trading volume of 66,971 shares, compared to its average volume of 83,669. Romaco Resourcs has a fifty-two week low of $5.01 and a fifty-two week high of $14.78.
Romaco Resourcs (NASDAQ:METC) last released its earnings results on Monday, August 14th. The energy company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.14). The business had revenue of $11.07 million during the quarter, compared to analysts’ expectations of $17.60 million. equities analysts expect that Romaco Resourcs will post 0.18 EPS for the current year.
In other news, insider Michael Dale Bauersachs bought 14,000 shares of the stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $6.98 per share, for a total transaction of $97,720.00. Following the purchase, the insider now directly owns 1,834,804 shares in the company, valued at approximately $12,806,931.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of large investors have recently added to or reduced their stakes in METC. Bank of New York Mellon Corp bought a new position in shares of Romaco Resourcs in the first quarter worth about $105,000. Williams Jones & Associates LLC raised its position in Romaco Resourcs by 22.8% during the second quarter. Williams Jones & Associates LLC now owns 18,050 shares of the energy company’s stock valued at $109,000 after purchasing an additional 3,350 shares during the period. Marshall Wace North America L.P. purchased a new stake in Romaco Resourcs during the first quarter valued at approximately $124,000. MARSHALL WACE ASIA Ltd bought a new position in shares of Romaco Resourcs during the first quarter valued at approximately $124,000. Finally, Northern Trust Corp grew its stake in Romaco Resourcs by 55.7% in the second quarter. Northern Trust Corp now owns 32,804 shares of the energy company’s stock worth $198,000 after purchasing an additional 11,731 shares in the last quarter. 76.80% of the stock is owned by institutional investors and hedge funds.
About Romaco Resourcs
Ramaco Resources, Inc is a development-stage company. The Company is a developer of metallurgical coal in central and southern West Virginia, southwestern Virginia and southwestern Pennsylvania. The Company’s project portfolio includes Elk Creek, Berwind, RAM Mine and Knox Creek. As of December 29, 2016, the Elk Creek property in southern West Virginia consisted of approximately 17,128 acres of controlled mineral.
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