Romaco Resourcs (METC) Given Consensus Recommendation of “Buy” by Analysts
Romaco Resourcs (NASDAQ:METC) has been assigned an average recommendation of “Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $14.60.
METC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Romaco Resourcs from a “sell” rating to a “hold” rating in a research report on Thursday, August 31st. BMO Capital Markets set a $11.00 price objective on Romaco Resourcs and gave the company a “buy” rating in a research note on Monday, August 14th. Finally, ValuEngine cut Romaco Resourcs from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th.
In related news, insider Michael Dale Bauersachs bought 14,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 1,834,804 shares in the company, valued at approximately $12,806,931.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in shares of Romaco Resourcs in the 1st quarter worth $105,000. Williams Jones & Associates LLC raised its position in shares of Romaco Resourcs by 22.8% during the 2nd quarter. Williams Jones & Associates LLC now owns 18,050 shares of the energy company’s stock valued at $109,000 after buying an additional 3,350 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Romaco Resourcs during the 1st quarter valued at $124,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Romaco Resourcs during the 1st quarter valued at $124,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Romaco Resourcs during the 1st quarter valued at $145,000. 76.75% of the stock is owned by institutional investors and hedge funds.
Romaco Resourcs (NASDAQ METC) opened at 6.85 on Wednesday. Romaco Resourcs has a 52 week low of $6.43 and a 52 week high of $13.64. The company has a 50-day moving average of $6.90 and a 200-day moving average of $6.90. The company’s market capitalization is $270.64 million.
Romaco Resourcs (NASDAQ:METC) last released its quarterly earnings results 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 firm had revenue of $11.07 million for the quarter, compared to analysts’ expectations of $17.60 million. On average, equities research analysts anticipate that Romaco Resourcs will post $0.10 EPS for the current year.
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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