Romaco Resourcs (NASDAQ:METC) COO Mark Allen Clemens bought 15,000 shares of the stock in a transaction on Thursday, November 16th. The stock was purchased at an average price of $4.26 per share, for a total transaction of $63,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Romaco Resourcs (METC) traded up $0.10 during midday trading on Monday, hitting $4.87. The stock had a trading volume of 102,537 shares, compared to its average volume of 185,504. Romaco Resourcs has a one year low of $3.81 and a one year high of $14.78.
Romaco Resourcs (NASDAQ:METC) last announced its quarterly earnings results on Wednesday, November 8th. The energy company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.21). The company had revenue of $14.41 million during the quarter. Romaco Resourcs had a negative net margin of 35.22% and a negative return on equity of 16.08%. analysts anticipate that Romaco Resourcs will post -0.17 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in METC. Bank of New York Mellon Corp purchased a new position in Romaco Resourcs during the first quarter worth about $105,000. Williams Jones & Associates LLC grew its position 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 buying an additional 3,350 shares in the last quarter. Northern Trust Corp grew its position 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 buying an additional 11,731 shares in the last quarter. State Street Corp grew its position 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 buying an additional 29,026 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in Romaco Resourcs during the first quarter worth about $414,000. Institutional investors own 89.26% of the company’s stock.
METC has been the topic of several research reports. Zacks Investment Research upgraded Romaco Resourcs from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. BMO Capital Markets reduced their price target on Romaco Resourcs from $11.00 to $7.00 and set an “outperform” rating for the company in a research report on Friday, November 10th. Finally, ValuEngine cut 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 issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $13.80.
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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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