Romaco Resourcs (NASDAQ:METC) had its price target lowered by equities research analysts at BMO Capital Markets from $11.00 to $7.00 in a report released on Friday. The firm presently has an “outperform” rating on the energy company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 63.17% from the company’s current price.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Romaco Resourcs from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. ValuEngine downgraded Romaco Resourcs from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Romaco Resourcs currently has a consensus rating of “Buy” and an average price target of $13.80.
Shares of Romaco Resourcs (NASDAQ METC) traded down $0.47 during mid-day trading on Friday, reaching $4.29. The company’s stock had a trading volume of 600,000 shares, compared to its average volume of 180,149. Romaco Resourcs has a 12 month low of $4.23 and a 12 month high of $14.78.
Romaco Resourcs (NASDAQ:METC) last issued its earnings results on Wednesday, November 8th. The energy company reported ($0.16) EPS for the quarter, missing the Zacks’ 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 12.88%. The company had revenue of $14.41 million during the quarter. equities research analysts predict that Romaco Resourcs will post 0.18 EPS for the current year.
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In other Romaco Resourcs news, insider Michael Dale Bauersachs acquired 14,000 shares of Romaco Resourcs stock in a transaction dated Friday, August 18th. The stock was acquired at an average cost of $6.98 per share, for a total transaction of $97,720.00. Following the completion of the transaction, the insider now owns 1,834,804 shares in the company, valued at approximately $12,806,931.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in Romaco Resourcs during the first quarter worth approximately $105,000. Williams Jones & Associates LLC raised its holdings in Romaco Resourcs by 22.8% during the second quarter. Williams Jones & Associates LLC now owns 18,050 shares of the energy company’s stock worth $109,000 after purchasing an additional 3,350 shares in the last quarter. Northern Trust Corp raised its holdings in Romaco Resourcs by 55.7% during the second quarter. Northern Trust Corp now owns 32,804 shares of the energy company’s stock worth $198,000 after purchasing an additional 11,731 shares in the last quarter. State Street Corp raised its holdings in Romaco Resourcs by 89.0% during the second quarter. State Street Corp now owns 61,626 shares of the energy company’s stock worth $373,000 after purchasing an additional 29,026 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in Romaco Resourcs during the first quarter worth approximately $414,000. 76.81% of the stock is currently owned by hedge funds and other 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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