Zacks Investment Research lowered shares of Romaco Resourcs (NASDAQ:METC) from a hold rating to a strong sell rating in a research note issued to investors 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. “

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets dropped their target price on shares of Romaco Resourcs from $11.00 to $7.00 and set an outperform rating for the company in a research report on Friday, November 10th. ValuEngine lowered shares of Romaco Resourcs from a hold rating to a sell rating in a research report on Thursday, September 28th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $13.80.

Shares of Romaco Resourcs (METC) traded up $0.12 during trading on Wednesday, reaching $4.11. 228,656 shares of the company’s stock traded hands, compared to its average volume of 184,046. Romaco Resourcs has a twelve month low of $3.81 and a twelve month high of $14.78.

Romaco Resourcs (NASDAQ:METC) last announced its earnings results on Wednesday, November 8th. The energy company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.21). Romaco Resourcs had a negative net margin of 35.22% and a negative return on equity of 16.08%. The company had revenue of $14.41 million for the quarter.

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In other Romaco Resourcs news, insider Michael Dale Bauersachs acquired 14,000 shares of the stock in a transaction dated Friday, August 18th. The stock was purchased at an average cost of $6.98 per share, for a total transaction of $97,720.00. Following the acquisition, the insider now owns 1,834,804 shares in the company, valued at approximately $12,806,931.92. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce E. Cryder acquired 5,868 shares of the stock in a transaction dated Monday, November 13th. The stock was acquired at an average price of $4.27 per share, with a total value of $25,056.36. The disclosure for this purchase can be found here.

Several institutional investors and hedge funds have recently made changes to their positions in METC. Bank of New York Mellon Corp bought a new stake in shares of Romaco Resourcs in the 1st quarter worth approximately $105,000. Teachers Advisors LLC bought a new stake in shares of Romaco Resourcs in the 1st quarter worth approximately $5,335,000. TIAA CREF Investment Management LLC bought a new stake in shares of Romaco Resourcs in the 1st quarter worth approximately $2,282,000. Goldman Sachs Group Inc. bought a new stake in Romaco Resourcs during the 1st quarter valued at $414,000. Finally, Foundry Partners LLC bought a new stake in Romaco Resourcs during the 2nd quarter valued at $2,116,000. Hedge funds and other institutional investors own 76.81% 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.

Analyst Recommendations for Romaco Resourcs (NASDAQ:METC)

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