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 released 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. “
Other research analysts have also recently issued reports about the company. BMO Capital Markets set a $11.00 price objective on ROMACO RESOURCS and gave the company a buy rating in a research report on Monday, August 14th. Jefferies Group LLC reaffirmed a buy rating and set a $15.00 price objective (down from $16.00) on shares of ROMACO RESOURCS in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. ROMACO RESOURCS currently has a consensus rating of Buy and an average price target of $14.60.
ROMACO RESOURCS (NASDAQ:METC) traded up 1.54% on Thursday, hitting $7.89. 1,862 shares of the company traded hands. The firm’s 50 day moving average price is $7.05 and its 200 day moving average price is $7.73. ROMACO RESOURCS has a 1-year low of $5.01 and a 1-year high of $14.78. The firm’s market capitalization is $311.73 million.
ROMACO RESOURCS (NASDAQ:METC) last posted its quarterly earnings data on Monday, August 14th. The energy company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.14. The firm had revenue of $11.07 million during the quarter, compared to analysts’ expectations of $17.60 million. Equities research analysts predict that ROMACO RESOURCS will post $0.10 EPS for the current fiscal year.
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In other ROMACO RESOURCS news, insider Michael Dale Bauersachs purchased 14,000 shares of the 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 acquisition, the insider now owns 1,834,804 shares in the company, valued at $12,806,931.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Precocity Capital LP acquired a new position in ROMACO RESOURCS during the first quarter worth approximately $2,659,000. Omega Advisors Inc. acquired a new position in ROMACO RESOURCS during the first quarter worth approximately $967,000. Citadel Advisors LLC acquired a new position in ROMACO RESOURCS during the first quarter worth approximately $1,996,000. Marshall Wace North America L.P. acquired a new position in ROMACO RESOURCS during the first quarter worth approximately $124,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in ROMACO RESOURCS during the first quarter worth approximately $124,000. 76.75% of the stock is currently owned by institutional investors.
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.
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