On Wednesday Romarco Minerals Inc. (TRS:R), (OTCMKTS:RTRAF) published its new quarterly report for the period ended June 2014. The company was upgraded by several separate analyst firms on the following day.[BANNER]
RBC Capital issued an update, upgrading Romarco from sector perform to outperform. The firm also upped its price target for the stock to C$1.25, up by C$0.25 from its old target. Here is what Romarco published in its quarterly report (in US dollars):
- $32.1 million in cash
- $6.2 million in current liabilities
- $3.5 million in quarterly net loss
The company supplemented the filing with a press release, highlighting important events that took place over the quarter and extending right up to the filing date. Most of the highlights concerned the company's Haile gold mine in South Carolina - the company's flagship product. Other points of interest include Romarco lowering its net cash spending by about 30% YoY and slightly decreasing net loss from Q2 of 2013.
Separately, two other analyst firms issued upgrades for Romarco. BMO Capital Markets also upped their market perform rating to outperform. Analysts with Desjardins raised Romarco's price target by C$0.10 to C$1.10 and issued a buy rating.
In yesterday's session the company shifted 603 thousand shares and closed 1% down, at C$0.89 per share.