Brokerages Set Ramaco Resources, Inc. (NASDAQ:METC) Price Target at $37.33

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $37.3333.

Several brokerages have weighed in on METC. Jefferies Financial Group cut Ramaco Resources from a “buy” rating to a “hold” rating and dropped their price objective for the company from $45.00 to $33.00 in a research note on Tuesday, October 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Ramaco Resources in a research report on Wednesday, November 19th. Northland Capmk raised shares of Ramaco Resources to a “strong-buy” rating in a research report on Wednesday, October 8th. The Goldman Sachs Group started coverage on shares of Ramaco Resources in a research note on Wednesday, November 19th. They issued a “sell” rating and a $16.00 price objective for the company. Finally, B. Riley lifted their target price on shares of Ramaco Resources from $14.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th.

Ramaco Resources Price Performance

Shares of NASDAQ METC opened at $16.47 on Friday. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -24.58 and a beta of 1.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 2.97. Ramaco Resources has a fifty-two week low of $6.30 and a fifty-two week high of $57.80. The firm’s 50-day simple moving average is $32.27 and its 200 day simple moving average is $22.34.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Monday, October 27th. The energy company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.05. The firm had revenue of $104.87 million during the quarter, compared to the consensus estimate of $137.63 million. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The company’s quarterly revenue was down 27.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) earnings per share. As a group, research analysts anticipate that Ramaco Resources will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ramaco Resources

Several large investors have recently made changes to their positions in METC. Brooklyn Investment Group purchased a new position in shares of Ramaco Resources in the 1st quarter worth about $25,000. Archer Investment Corp purchased a new stake in Ramaco Resources in the third quarter worth $33,000. MCF Advisors LLC bought a new stake in Ramaco Resources in the 3rd quarter valued at about $35,000. Advisory Services Network LLC purchased a new stake in shares of Ramaco Resources during the 3rd quarter valued at approximately $38,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in Ramaco Resources by 63.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company’s stock worth $48,000 after purchasing an additional 1,416 shares in the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.