ROMACO RESOURCS’s (NASDAQ:METC) lock-up period is set to expire on Wednesday, August 2nd. ROMACO RESOURCS had issued 6,000,000 shares in its initial public offering on February 3rd. The total size of the offering was $81,000,000 based on an initial share price of $13.50. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Several research analysts recently issued reports on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $15.00 target price (down from $16.00) on shares of ROMACO RESOURCS in a research report on Wednesday, May 17th. BMO Capital Markets set a $11.00 price target on shares of ROMACO RESOURCS and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, Zacks Investment Research upgraded shares of ROMACO RESOURCS from a “sell” rating to a “hold” rating in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $14.60.
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ROMACO RESOURCS (METC) opened at 7.02 on Friday. ROMACO RESOURCS has a 1-year low of $5.01 and a 1-year high of $14.78. The company’s market capitalization is $274.22 million. The company has a 50-day moving average of $6.65 and a 200-day moving average of $7.90.
A number of institutional investors have recently made changes to their positions in METC. Precocity Capital LP purchased a new position in shares of ROMACO RESOURCS during the first quarter valued at about $2,659,000. Omega Advisors Inc. purchased a new position in shares of ROMACO RESOURCS during the first quarter valued at about $967,000. Citadel Advisors LLC purchased a new position in shares of ROMACO RESOURCS during the first quarter valued at about $1,996,000. Marshall Wace North America L.P. purchased a new position in shares of ROMACO RESOURCS during the first quarter valued at about $124,000. Finally, MARSHALL WACE ASIA Ltd purchased a new position in shares of ROMACO RESOURCS during the first quarter valued at about $124,000. 78.25% 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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