Romaco Resourcs (METC) Upgraded at Zacks Investment Research
Romaco Resourcs (NASDAQ:METC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
Separately, BMO Capital Markets set a $11.00 price target on shares of Romaco Resourcs and gave the stock a “buy” rating in a report on Monday, August 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.60.
Romaco Resourcs (NASDAQ:METC) traded up 0.59% on Thursday, hitting $6.81. The stock had a trading volume of 142,539 shares. The company has a 50-day moving average price of $7.00 and a 200-day moving average price of $7.00. The stock’s market capitalization is $269.06 million. Romaco Resourcs has a 52 week low of $6.54 and a 52 week high of $13.64.
Romaco Resourcs (NASDAQ:METC) last released its quarterly earnings results on Monday, August 14th. The energy company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14). The business had revenue of $11.07 million during the quarter, compared to analyst estimates of $17.60 million. Equities research analysts anticipate that Romaco Resourcs will post $0.10 earnings per share for the current fiscal year.
In other Romaco Resourcs news, insider Michael Dale Bauersachs bought 14,000 shares of the stock in a transaction on Friday, August 18th. The shares were acquired at an average price of $6.98 per share, with a total value of $97,720.00. Following the acquisition, the insider now directly owns 1,834,804 shares of the company’s stock, valued at approximately $12,806,931.92. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Several institutional investors and hedge funds have recently added to or reduced their stakes in METC. Bank of New York Mellon Corp purchased a new position in Romaco Resourcs in the first quarter worth $105,000. Williams Jones & Associates LLC grew its position in Romaco Resourcs by 22.8% in the second quarter. Williams Jones & Associates LLC now owns 18,050 shares of the energy company’s stock worth $109,000 after acquiring an additional 3,350 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in Romaco Resourcs in the first quarter worth $124,000. MARSHALL WACE ASIA Ltd purchased a new position in Romaco Resourcs in the first quarter worth $124,000. Finally, Laurion Capital Management LP purchased a new position in Romaco Resourcs in the first quarter worth $145,000. Hedge funds and other institutional investors own 76.75% of the company’s stock.
Romaco Resourcs Company Profile
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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