Ramaco Resources (METC) Lowered to “Hold” at Zacks Investment Research

Ramaco Resources (NASDAQ:METC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday.

According to Zacks, “Ramaco Resources, Inc. is an operator and developer of high-quality, low cost metallurgical coal in central and southern West Virginia, southwestern Virginia and southwestern Pennsylvania. Ramaco Resources, Inc. is headquartered in Lexington, Kentucky. “

Several other research analysts have also weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Ramaco Resources from $11.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, November 10th. ValuEngine lowered shares of Ramaco Resources from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Ramaco Resources currently has a consensus rating of “Buy” and a consensus price target of $12.92.

Shares of Ramaco Resources (METC) opened at $9.00 on Friday. Ramaco Resources has a 12-month low of $3.81 and a 12-month high of $14.78.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Wednesday, November 8th. The energy company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.21). Ramaco Resources had a negative net margin of 35.22% and a negative return on equity of 16.08%. The firm had revenue of $14.41 million for the quarter. sell-side analysts forecast that Ramaco Resources will post 0.01 EPS for the current year.

In other Ramaco Resources news, insider Michael Dale Bauersachs bought 25,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was bought at an average cost of $3.96 per share, with a total value of $99,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mark Allen Clemens bought 15,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was acquired at an average cost of $4.26 per share, with a total value of $63,900.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 45,868 shares of company stock worth $187,956.

A number of hedge funds have recently bought and sold shares of METC. Vanguard Group Inc. grew its position in Ramaco Resources by 91.3% in the second quarter. Vanguard Group Inc. now owns 207,800 shares of the energy company’s stock worth $1,258,000 after acquiring an additional 99,188 shares in the last quarter. Alyeska Investment Group L.P. grew its position in Ramaco Resources by 15.8% in the third quarter. Alyeska Investment Group L.P. now owns 550,000 shares of the energy company’s stock worth $3,647,000 after acquiring an additional 75,000 shares in the last quarter. GLG Partners LP grew its position in Ramaco Resources by 73.2% in the second quarter. GLG Partners LP now owns 87,327 shares of the energy company’s stock worth $528,000 after acquiring an additional 36,899 shares in the last quarter. State Street Corp grew its position in Ramaco Resources by 89.0% in the second quarter. State Street Corp now owns 61,626 shares of the energy company’s stock worth $373,000 after acquiring an additional 29,026 shares in the last quarter. Finally, Foundry Partners LLC grew its position in Ramaco Resources by 7.5% in the third quarter. Foundry Partners LLC now owns 375,925 shares of the energy company’s stock worth $2,492,000 after acquiring an additional 26,200 shares in the last quarter. 89.26% of the stock is owned by institutional investors.

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About Ramaco Resources

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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