Zacks Investment Research Upgrades ROMACO RESOURCS (METC) to Hold
ROMACO RESOURCS (NASDAQ:METC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
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. “
Several other analysts have also weighed in on METC. Jefferies Group LLC reiterated 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 shares of ROMACO RESOURCS and gave the company a “buy” rating in a research report on Monday, August 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $14.60.
ROMACO RESOURCS (NASDAQ METC) opened at 7.83 on Thursday. ROMACO RESOURCS has a 12 month low of $5.01 and a 12 month high of $14.78. The stock’s 50 day moving average is $7.10 and its 200 day moving average is $7.70. The company’s market cap is $309.36 million.
ROMACO RESOURCS (NASDAQ:METC) last posted its quarterly earnings results on Monday, August 14th. The energy company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.14. The business had revenue of $11.07 million for the quarter, compared to the consensus estimate of $17.60 million. Equities analysts predict that ROMACO RESOURCS will post $0.10 earnings per share for the current year.
In other news, insider Michael Dale Bauersachs purchased 14,000 shares of ROMACO RESOURCS stock in a transaction on Friday, August 18th. The shares were purchased at an average cost of $6.98 per share, for a total transaction of $97,720.00. Following the completion of the transaction, the insider now directly owns 1,834,804 shares in the company, valued at $12,806,931.92. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.
A number of institutional investors have recently added to or reduced their stakes in the stock. Yorktown Energy Partners IX L.P. purchased a new position in ROMACO RESOURCS during the first quarter worth approximately $142,841,000. Yorktown Energy Partners XI L.P. purchased a new position in ROMACO RESOURCS during the first quarter worth approximately $54,028,000. Yorktown Energy Partners X L.P. purchased a new position in ROMACO RESOURCS during the first quarter worth approximately $35,710,000. Teachers Advisors LLC purchased a new position in ROMACO RESOURCS during the first quarter worth approximately $5,335,000. Finally, Wellington Management Group LLP purchased a new position in ROMACO RESOURCS during the first quarter worth approximately $4,942,000. Hedge funds and other institutional investors own 76.75% 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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