Zacks Investment Research upgraded shares of ROMACO RESOURCS (NASDAQ:METC) from a sell rating to a hold rating in a report issued 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. “
METC has been the subject of a number of other reports. Jefferies Group LLC reaffirmed a buy rating and set a $15.00 target price (down from $16.00) on shares of ROMACO RESOURCS in a research report on Wednesday, May 17th. BMO Capital Markets set a $11.00 target price on ROMACO RESOURCS and gave the company a buy rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. ROMACO RESOURCS currently has an average rating of Buy and an average price target of $14.60.
Shares of ROMACO RESOURCS (NASDAQ METC) opened at 6.98 on Tuesday. ROMACO RESOURCS has a 52 week low of $6.96 and a 52 week high of $13.64. The stock’s market capitalization is $275.77 million. The company has a 50-day moving average price of $7.29 and a 200 day moving average price of $11.08.
ROMACO RESOURCS (NASDAQ:METC) last issued its earnings results on Monday, August 14th. The energy company reported ($0.09) earnings per share 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 analyst estimates of $17.60 million. Equities analysts forecast that ROMACO RESOURCS will post $0.10 EPS for the current fiscal year.
In related news, insider Michael Dale Bauersachs purchased 14,000 shares of ROMACO RESOURCS stock in a transaction dated Friday, August 18th. The stock was purchased at an average cost of $6.98 per share, with a total value of $97,720.00. Following the transaction, the insider now 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 through the SEC website.
Several institutional investors and hedge funds have recently added to or reduced their stakes in METC. 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% in 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 in the last quarter. Marshall Wace North America L.P. bought a new position in shares of ROMACO RESOURCS in the 1st quarter worth $124,000. MARSHALL WACE ASIA Ltd bought a new position in shares of ROMACO RESOURCS in the 1st quarter worth $124,000. Finally, Laurion Capital Management LP bought a new position in shares of ROMACO RESOURCS in the 1st quarter worth $145,000. 76.75% of the stock is owned by hedge funds and other institutional investors.
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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