Ramaco Resources (NASDAQ:METC) Price Target Lowered to $13.00 at Morgan Stanley

Ramaco Resources (NASDAQ:METC) had its price target reduced by Morgan Stanley from $17.00 to $13.00 in a research note published on Wednesday, MarketBeat Ratings reports. They currently have an equal weight rating on the energy company’s stock.

Several other brokerages have also weighed in on METC. Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and lifted their price target for the company from $14.00 to $15.00 in a research report on Tuesday, April 21st. B. Riley Financial decreased their price target on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Robert W. Baird lowered their price target on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.71.

Ramaco Resources Price Performance

Ramaco Resources stock opened at $12.23 on Wednesday. The company has a market cap of $797.15 million, a P/E ratio of -11.12 and a beta of 1.35. Ramaco Resources has a one year low of $11.34 and a one year high of $57.80. The business has a fifty day moving average of $14.41 and a two-hundred day moving average of $16.09. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The company had revenue of $101.41 million for the quarter, compared to analyst estimates of $129.72 million. During the same period last year, the company earned ($0.20) earnings per share. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. As a group, analysts predict that Ramaco Resources will post -0.27 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 46.07% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

Several large investors have recently added to or reduced their stakes in METC. BankChampaign National Association purchased a new position in shares of Ramaco Resources during the 1st quarter worth about $187,000. Royal Bank of Canada increased its position in Ramaco Resources by 16.4% during the first quarter. Royal Bank of Canada now owns 81,583 shares of the energy company’s stock worth $1,262,000 after purchasing an additional 11,474 shares during the last quarter. Cetera Investment Advisers increased its position in Ramaco Resources by 12.2% during the first quarter. Cetera Investment Advisers now owns 26,850 shares of the energy company’s stock worth $415,000 after purchasing an additional 2,930 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ramaco Resources by 38.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock worth $22,179,000 after purchasing an additional 398,626 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Ramaco Resources by 8.1% during the first quarter. Bank of New York Mellon Corp now owns 108,724 shares of the energy company’s stock worth $1,681,000 after purchasing an additional 8,114 shares during the period. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

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.