Romaco Resourcs (METC) Stock Rating Upgraded by Zacks Investment Research
Romaco Resourcs (NASDAQ:METC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note 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. “
Separately, BMO Capital Markets set a $11.00 price target on shares of Romaco Resourcs and gave the stock a “buy” rating in a report on Monday, August 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. 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 6.81 on Thursday. Romaco Resourcs has a one year low of $6.54 and a one year high of $13.64. The stock has a 50 day moving average of $7.00 and a 200-day moving average of $7.00. The company’s market capitalization is $269.06 million.
Romaco Resourcs (NASDAQ:METC) last released its quarterly earnings results on Monday, August 14th. The energy company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.14). The company had revenue of $11.07 million for the quarter, compared to analyst estimates of $17.60 million. On average, 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 the business’s stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $6.98 per share, for a total transaction of $97,720.00. Following the completion of the acquisition, the insider now owns 1,834,804 shares in the company, valued at $12,806,931.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of hedge funds have recently made changes to their positions in METC. Yorktown Energy Partners IX L.P. bought a new stake in Romaco Resourcs in the first quarter worth about $142,841,000. Yorktown Energy Partners XI L.P. bought a new stake in Romaco Resourcs in the first quarter worth about $54,028,000. Yorktown Energy Partners X L.P. bought a new stake in Romaco Resourcs in the first quarter worth about $35,710,000. Teachers Advisors LLC bought a new stake in Romaco Resourcs in the first quarter worth about $5,335,000. Finally, Wellington Management Group LLP bought a new stake in Romaco Resourcs in the first quarter worth about $4,942,000. 76.75% of the stock is currently 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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