Romaco Resourcs (METC) Given Consensus Recommendation of “Hold” by Brokerages
Romaco Resourcs (NASDAQ:METC) has earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $13.80.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Romaco Resourcs from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. ValuEngine lowered Romaco Resourcs from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. Finally, BMO Capital Markets set a $11.00 price target on Romaco Resourcs and gave the company a “buy” rating in a research note on Monday, August 14th.
Romaco Resourcs (METC) opened at $4.09 on Thursday. Romaco Resourcs has a 12 month low of $3.81 and a 12 month high of $14.78.
In related news, Director Bruce E. Cryder acquired 5,868 shares of the stock in a transaction dated Monday, November 13th. The shares were bought at an average cost of $4.27 per share, for a total transaction of $25,056.36. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Dale Bauersachs acquired 25,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was bought at an average price of $3.96 per share, for a total transaction of $99,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 45,868 shares of company stock worth $187,956.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in Romaco Resourcs during the 1st quarter worth approximately $105,000. Williams Jones & Associates LLC grew its position in Romaco Resourcs by 22.8% during the 2nd 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 during the last quarter. Northern Trust Corp grew its position in Romaco Resourcs by 55.7% during the 2nd quarter. Northern Trust Corp now owns 32,804 shares of the energy company’s stock worth $198,000 after acquiring an additional 11,731 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in Romaco Resourcs during the 1st quarter worth approximately $414,000. Finally, State Street Corp grew its position in Romaco Resourcs by 89.0% during the 2nd quarter. State Street Corp now owns 61,626 shares of the energy company’s stock worth $373,000 after acquiring an additional 29,026 shares during the last quarter. Institutional investors and hedge funds own 76.61% 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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