Romaco Resourcs (NASDAQ:METC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a 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. “

A number of other brokerages have also recently issued reports on METC. BMO Capital Markets set a $11.00 price objective on shares of Romaco Resourcs and gave the company a “buy” rating in a report on Monday, August 14th. ValuEngine lowered shares of Romaco Resourcs from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Romaco Resourcs currently has a consensus rating of “Hold” and an average price target of $13.80.

Romaco Resourcs (NASDAQ METC) opened at $4.10 on Wednesday. Romaco Resourcs has a twelve month low of $4.01 and a twelve month high of $14.78.

Romaco Resourcs (NASDAQ:METC) last issued its quarterly earnings data on Wednesday, November 8th. The energy company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.21). The business had revenue of $14.41 million for the quarter. Romaco Resourcs had a negative net margin of 35.22% and a negative return on equity of 12.88%. research analysts forecast that Romaco Resourcs will post 0.18 earnings per share for the current year.

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In other news, insider Michael Dale Bauersachs purchased 14,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average cost of $6.98 per share, with a total value of $97,720.00. Following the completion of the transaction, the insider now directly owns 1,834,804 shares of the company’s stock, valued at $12,806,931.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

A number of hedge funds have recently made changes to their positions in METC. Bank of New York Mellon Corp bought a new stake in Romaco Resourcs in the first quarter worth about $105,000. Williams Jones & Associates LLC raised its position in Romaco Resourcs by 22.8% in the second 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 period. Northern Trust Corp raised its position in Romaco Resourcs by 55.7% in the second quarter. Northern Trust Corp now owns 32,804 shares of the energy company’s stock worth $198,000 after acquiring an additional 11,731 shares during the period. State Street Corp raised its position in Romaco Resourcs by 89.0% in the second quarter. State Street Corp now owns 61,626 shares of the energy company’s stock worth $373,000 after acquiring an additional 29,026 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in Romaco Resourcs in the first quarter worth about $414,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Romaco Resourcs (NASDAQ:METC)

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