Romaco Resourcs (METC) Given Consensus Rating of “Buy” by Brokerages
Romaco Resourcs (NASDAQ:METC) has been assigned a consensus rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $14.60.
Several equities research analysts have issued reports on METC shares. Zacks Investment Research upgraded shares of Romaco Resourcs from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. BMO Capital Markets set a $11.00 price objective on shares of Romaco Resourcs and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $15.00 price objective (down previously from $16.00) on shares of Romaco Resourcs in a research report on Wednesday, May 17th.
Shares of Romaco Resourcs (NASDAQ:METC) opened at 7.35 on Friday. The firm’s 50-day moving average is $7.21 and its 200 day moving average is $7.60. The firm’s market capitalization is $290.39 million. Romaco Resourcs has a 52 week low of $5.01 and a 52 week high of $14.78.
Romaco Resourcs (NASDAQ:METC) last issued its quarterly earnings data on Monday, August 14th. The energy company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by $0.14. The company had revenue of $11.07 million for the quarter, compared to analyst estimates of $17.60 million. Equities research analysts forecast that Romaco Resourcs will post $0.10 EPS for the current fiscal year.
In related news, insider Michael Dale Bauersachs acquired 14,000 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average cost of $6.98 per share, for a total transaction of $97,720.00. Following the transaction, the insider now directly owns 1,834,804 shares in the company, valued at $12,806,931.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
A number of hedge funds have recently added to or reduced their stakes in the stock. Yorktown Energy Partners IX L.P. acquired a new position in Romaco Resourcs during the 1st quarter worth approximately $142,841,000. Yorktown Energy Partners XI L.P. acquired a new position in Romaco Resourcs during the 1st quarter worth approximately $54,028,000. Yorktown Energy Partners X L.P. acquired a new position in Romaco Resourcs during the 1st quarter worth approximately $35,710,000. Teachers Advisors LLC acquired a new position in Romaco Resourcs during the 1st quarter worth approximately $5,335,000. Finally, Wellington Management Group LLP acquired a new position in Romaco Resourcs during the 1st quarter worth approximately $4,942,000. Institutional investors and hedge funds own 76.75% of the company’s stock.
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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