Zacks Investment Research upgraded shares of Romaco Resourcs (NASDAQ:METC) from a sell rating to a hold rating in a research report sent to investors on Tuesday.
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. “
A number of other analysts have also commented on the company. Jefferies Group LLC reaffirmed a buy rating and issued a $15.00 price target (down previously from $16.00) on shares of Romaco Resourcs in a research note on Wednesday, May 17th. BMO Capital Markets set a $11.00 price target on Romaco Resourcs and gave the stock a buy rating in a research note on Monday, August 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Romaco Resourcs currently has a consensus rating of Buy and an average price target of $14.60.
Romaco Resourcs (NASDAQ METC) opened at 6.92 on Tuesday. The firm’s market cap is $273.40 million. Romaco Resourcs has a 52-week low of $6.91 and a 52-week high of $13.64. The company’s 50 day moving average is $7.12 and its 200-day moving average is $9.74.
Romaco Resourcs (NASDAQ:METC) last announced 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 company had revenue of $11.07 million during the quarter, compared to the consensus estimate of $17.60 million. On average, equities analysts predict that Romaco Resourcs will post $0.10 EPS for the current fiscal year.
In other news, insider Michael Dale Bauersachs acquired 14,000 shares of the stock in a transaction on Friday, August 18th. The stock was acquired at an average price of $6.98 per share, with a total value of $97,720.00. Following the completion of the transaction, the insider now owns 1,834,804 shares of the company’s stock, valued at approximately $12,806,931.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
A number of institutional investors have recently made changes to their positions in METC. Wells Fargo & Company MN purchased a new position in Romaco Resourcs during the first quarter valued at $1,576,000. Bank of New York Mellon Corp purchased a new position in Romaco Resourcs during the first quarter valued at $105,000. Oxford Asset Management purchased a new position in Romaco Resourcs during the first quarter valued at $1,422,000. Neuberger Berman Group LLC purchased a new position in Romaco Resourcs during the first quarter valued at $271,000. Finally, Wellington Management Group LLP purchased a new position in Romaco Resourcs during the first quarter valued at $4,942,000. 76.75% of the stock is owned by institutional investors and hedge funds.
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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