Romaco Resourcs (METC) Sets New 1-Year Low on Analyst Downgrade

Romaco Resourcs (NASDAQ:METC) shares hit a new 52-week low on Friday after BMO Capital Markets lowered their price target on the stock from $11.00 to $7.00. BMO Capital Markets currently has an outperform rating on the stock. Romaco Resourcs traded as low as $4.47 and last traded at $4.47, with a volume of 205363 shares. The stock had previously closed at $4.76.

METC has been the topic of several other research reports. Zacks Investment Research raised Romaco Resourcs from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. ValuEngine lowered Romaco Resourcs from a “hold” rating to a “sell” rating in a report on Thursday, September 28th. One investment 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’s stock. Romaco Resourcs has an average rating of “Buy” and a consensus target price of $13.80.

In other news, insider Michael Dale Bauersachs bought 14,000 shares of the stock in a transaction on Friday, August 18th. The shares were bought at an average price of $6.98 per share, with a total value of $97,720.00. Following the completion of the acquisition, the insider now 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 can be accessed through this link.

A number of institutional investors have recently bought and sold shares of METC. Bank of New York Mellon Corp acquired a new stake in Romaco Resourcs in the first quarter valued at $105,000. Teachers Advisors LLC purchased a new stake in shares of Romaco Resourcs in the first quarter valued at $5,335,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Romaco Resourcs in the first quarter valued at $2,282,000. Goldman Sachs Group Inc. purchased a new stake in shares of Romaco Resourcs in the first quarter valued at $414,000. Finally, Foundry Partners LLC purchased a new stake in shares of Romaco Resourcs in the second quarter valued at $2,116,000. 76.80% of the stock is currently owned by institutional investors.

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 the Thomson Reuters’ consensus estimate of $0.05 by ($0.21). The firm had revenue of $14.41 million during the quarter. research analysts expect that Romaco Resourcs will post 0.18 earnings per share for the current year.

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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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