Ramaco Resources, Inc. (NASDAQ:METC) Given Consensus Rating of “Moderate Buy” by Brokerages

Ramaco Resources, Inc. (NASDAQ:METC) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $27.2857.

A number of brokerages have recently issued reports on METC. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and increased their price objective for the company from $14.00 to $15.00 in a research note on Tuesday, April 21st. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Morgan Stanley dropped their target price on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. B. Riley Financial dropped their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Finally, Robert W. Baird dropped their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th.

Insider Activity

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the completion of the sale, the insider owned 5,311,360 shares in the company, valued at $78,555,014.40. This trade represents a 3.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 46.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds have recently made changes to their positions in the company. Bridgeway Capital Management LLC increased its position in shares of Ramaco Resources by 0.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after purchasing an additional 536 shares in the last quarter. AlphaQuest LLC increased its position in shares of Ramaco Resources by 12.6% during the 3rd quarter. AlphaQuest LLC now owns 5,460 shares of the energy company’s stock worth $181,000 after purchasing an additional 610 shares in the last quarter. Allworth Financial LP grew its holdings in Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after acquiring an additional 1,009 shares during the last quarter. Advisory Services Network LLC bought a new stake in Ramaco Resources during the 3rd quarter worth about $38,000. Finally, US Bancorp DE grew its holdings in Ramaco Resources by 2.7% during the 3rd quarter. US Bancorp DE now owns 43,901 shares of the energy company’s stock worth $1,457,000 after acquiring an additional 1,171 shares during the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Trading Down 3.0%

Shares of METC stock opened at $14.80 on Wednesday. Ramaco Resources has a 52-week low of $9.69 and a 52-week high of $57.80. The stock has a market cap of $964.66 million, a price-to-earnings ratio of -13.45 and a beta of 1.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88. The firm has a fifty day moving average of $14.85 and a 200-day moving average of $16.47.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The business had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. During the same quarter in the prior year, the company posted ($0.20) EPS. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Ramaco Resources will post -0.23 earnings per share for the current fiscal year.

Ramaco Resources Company Profile

Ramaco Resources, Inc (NASDAQ:METC) is a U.S.-based producer of premium metallurgical coal and industrial minerals, focused on supplying the steel and allied industries. The company’s operations are centered in the Appalachian region of West Virginia, where it develops, mines and processes high-carbon coal products designed to meet the quality requirements of blast‐furnace and electric‐arc furnace steelmakers.

The firm’s flagship asset is the Elk Creek underground mine in Wyoming County, West Virginia, which began commercial production in 2019 and delivers a range of high‐grade metallurgical and anthracite coals.