Romaco Resourcs Expected to Earn FY2018 Earnings of $1.47 Per Share (METC)
Romaco Resourcs (NASDAQ:METC) – Equities researchers at Jefferies Group lowered their FY2018 earnings per share estimates for shares of Romaco Resourcs in a research report issued on Thursday. Jefferies Group analyst C. Lafemina now expects that the energy company will post earnings per share of $1.47 for the year, down from their previous estimate of $1.51. Jefferies Group also issued estimates for Romaco Resourcs’ FY2021 earnings at $1.59 EPS.
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.
A number of other equities research analysts have also weighed in on METC. BMO Capital Markets set a $11.00 target price on shares of Romaco Resourcs and gave the stock a “buy” rating in a report on Monday, August 14th. Zacks Investment Research upgraded shares of Romaco Resourcs from a “sell” rating to a “hold” rating in a report on Thursday, August 31st. Finally, ValuEngine lowered shares of Romaco Resourcs from a “hold” rating to a “sell” rating in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Romaco Resourcs currently has an average rating of “Buy” and a consensus target price of $14.60.
In other Romaco Resourcs news, insider Michael Dale Bauersachs bought 14,000 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average price of $6.98 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in Romaco Resourcs in the 1st quarter worth about $105,000. Williams Jones & Associates LLC grew its position in Romaco Resourcs by 22.8% in the 2nd quarter. Williams Jones & Associates LLC now owns 18,050 shares of the energy company’s stock worth $109,000 after purchasing an additional 3,350 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Romaco Resourcs in the 1st quarter worth about $124,000. MARSHALL WACE ASIA Ltd bought a new stake in Romaco Resourcs in the 1st quarter worth about $124,000. Finally, Laurion Capital Management LP bought a new stake in Romaco Resourcs in the 1st quarter worth about $145,000. 76.75% of the stock is owned by institutional investors and hedge funds.
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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