Brokerages Expect Romaco Resourcs (METC) to Post $0.05 EPS
Brokerages expect Romaco Resourcs (NASDAQ:METC) to report $0.05 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Romaco Resourcs’ earnings. The firm is expected to announce its next quarterly earnings report after the market closes on Wednesday, November 8th.
According to Zacks, analysts expect that Romaco Resourcs will report full year earnings of $0.18 per share for the current fiscal year, with EPS estimates ranging from $0.17 to $0.19. For the next fiscal year, analysts forecast that the company will report earnings of $1.38 per share, with EPS estimates ranging from $1.28 to $1.47. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Romaco Resourcs.
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 the consensus estimate of $0.05 by ($0.14). The firm had revenue of $11.07 million during the quarter, compared to analyst estimates of $17.60 million.
Several research analysts have weighed in on METC shares. BMO Capital Markets set a $11.00 price target on Romaco Resourcs and gave the company a “buy” rating in a report on Monday, August 14th. Zacks Investment Research upgraded Romaco Resourcs from a “sell” rating to a “hold” rating in a report on Thursday, August 31st. Finally, ValuEngine downgraded 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 issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $14.60.
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In other news, insider Michael Dale Bauersachs acquired 14,000 shares of the company’s stock in a transaction dated 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 acquisition, 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 SEC, which is available at this hyperlink.
Several hedge funds have recently added to or reduced their stakes in METC. Teachers Advisors LLC acquired a new stake in shares of Romaco Resourcs during the 1st quarter worth $5,335,000. Wellington Management Group LLP acquired a new stake in shares of Romaco Resourcs during the 1st quarter worth $4,942,000. Foundry Partners LLC acquired a new stake in shares of Romaco Resourcs during the 2nd quarter worth $2,116,000. TIAA CREF Investment Management LLC acquired a new stake in shares of Romaco Resourcs during the 1st quarter worth $2,282,000. Finally, Vanguard Group Inc. increased its holdings in shares of Romaco Resourcs by 91.3% during the 2nd quarter. Vanguard Group Inc. now owns 207,800 shares of the energy company’s stock worth $1,258,000 after buying an additional 99,188 shares during the last quarter. Institutional investors and hedge funds own 76.74% 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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