ROMACO RESOURCS (METC) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of ROMACO RESOURCS (NASDAQ:METC) from a sell rating to a hold rating in a report issued on Wednesday.
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. “
Separately, BMO Capital Markets set a $11.00 price target on ROMACO RESOURCS and gave the stock a buy rating in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company has an average rating of Buy and an average price target of $14.60.
ROMACO RESOURCS (METC) opened at 6.63 on Wednesday. ROMACO RESOURCS has a 12 month low of $6.43 and a 12 month high of $13.64. The company’s market cap is $261.94 million. The company’s 50-day moving average is $7.00 and its 200 day moving average is $7.00.
ROMACO RESOURCS (NASDAQ:METC) last issued its quarterly earnings data on Monday, August 14th. The energy company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.14). The company 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 earnings per share for the current fiscal year.
In other news, insider Michael Dale Bauersachs purchased 14,000 shares of ROMACO RESOURCS stock in a transaction on Friday, August 18th. The stock was purchased at an average price of $6.98 per share, with a total value of $97,720.00. Following the transaction, the insider now directly owns 1,834,804 shares in the company, valued at approximately $12,806,931.92. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.
Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in ROMACO RESOURCS during the 1st quarter worth approximately $105,000. Williams Jones & Associates LLC boosted 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. Marshall Wace North America L.P. acquired a new position in ROMACO RESOURCS during the 1st quarter worth approximately $124,000. MARSHALL WACE ASIA Ltd acquired a new position in ROMACO RESOURCS during the 1st quarter worth approximately $124,000. Finally, Laurion Capital Management LP acquired a new position in ROMACO RESOURCS during the 1st quarter worth approximately $145,000. 76.75% of the stock is owned by hedge funds and other institutional investors.
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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