Yorktown Energy Partners IX L.P. Invests $142.84 Million in Romaco Resourcs (METC)

Yorktown Energy Partners IX L.P. acquired a new stake in shares of Romaco Resourcs (NASDAQ:METC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,771,525 shares of the energy company’s stock, valued at approximately $142,841,000. Romaco Resourcs makes up about 50.0% of Yorktown Energy Partners IX L.P.’s holdings, making the stock its 2nd largest position. Yorktown Energy Partners IX L.P. owned about 37.82% of Romaco Resourcs as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of METC. Bank of New York Mellon Corp bought a new stake in Romaco Resourcs during the first quarter valued at approximately $105,000. Marshall Wace North America L.P. bought a new stake in Romaco Resourcs during the first quarter valued at approximately $124,000. MARSHALL WACE ASIA Ltd bought a new stake in Romaco Resourcs during the first quarter valued at approximately $124,000. Laurion Capital Management LP bought a new stake in Romaco Resourcs during the first quarter valued at approximately $145,000. Finally, Morgan Stanley bought a new stake in Romaco Resourcs during the first quarter valued at approximately $169,000. 77.42% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Romaco Resourcs (NASDAQ:METC)

Shares of Romaco Resourcs (METC) traded down 0.19% during midday trading on Tuesday, reaching $5.19. 72,783 shares of the company’s stock traded hands. The company has a 50 day moving average of $6.15 and a 200 day moving average of $8.57. Romaco Resourcs has a 52-week low of $5.01 and a 52-week high of $14.78. The firm’s market cap is $202.73 million.

Romaco Resourcs (NASDAQ:METC) last announced its earnings results on Wednesday, May 10th. The energy company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.11. The firm had revenue of $11.54 million for the quarter, compared to the consensus estimate of $8.50 million. On average, equities analysts predict that Romaco Resourcs will post $0.40 EPS for the current fiscal year.

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Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Romaco Resourcs from a “sell” rating to a “hold” rating in a research report on Tuesday, May 30th. Seaport Global Securities assumed coverage on shares of Romaco Resourcs in a research report on Tuesday, February 28th. They issued a “buy” rating and a $14.00 price objective on the stock. Jefferies Group LLC assumed coverage on shares of Romaco Resourcs in a research report on Tuesday, February 28th. They issued a “buy” rating and a $16.00 price objective on the stock. Clarkson Capital assumed coverage on shares of Romaco Resourcs in a research report on Tuesday, February 28th. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, BMO Capital Markets assumed coverage on shares of Romaco Resourcs in a research report on Tuesday, February 28th. They issued an “outperform” rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $15.40.

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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