Ramaco Resources, Inc. (NASDAQ:METC)’s share price shot up 8% on Monday . The stock traded as high as $12.38 and last traded at $12.38. 3,189 shares were traded during mid-day trading, a decline of 98% from the average session volume of 158,609 shares. The stock had previously closed at $11.46.
Several brokerages recently weighed in on METC. B. Riley increased their price objective on Ramaco Resources from $9.50 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, September 2nd. They noted that the move was a valuation call. Zacks Investment Research upgraded Ramaco Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, September 7th. Finally, TheStreet upgraded Ramaco Resources from a “c” rating to a “b-” rating in a research report on Monday, August 9th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Ramaco Resources currently has an average rating of “Buy” and an average target price of $8.00.
The firm has a 50-day moving average price of $8.96 and a 200 day moving average price of $6.37. The firm has a market capitalization of $559.30 million, a PE ratio of 111.55 and a beta of 1.10. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.04.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Foundry Partners LLC raised its stake in shares of Ramaco Resources by 35.0% in the first quarter. Foundry Partners LLC now owns 499,929 shares of the energy company’s stock valued at $2,115,000 after acquiring an additional 129,640 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Ramaco Resources in the first quarter valued at $99,000. Geode Capital Management LLC raised its stake in shares of Ramaco Resources by 24.8% in the second quarter. Geode Capital Management LLC now owns 71,900 shares of the energy company’s stock valued at $395,000 after acquiring an additional 14,296 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Ramaco Resources by 0.7% in the second quarter. Vanguard Group Inc. now owns 343,676 shares of the energy company’s stock valued at $1,880,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Ramaco Resources by 7.6% in the second quarter. Renaissance Technologies LLC now owns 70,100 shares of the energy company’s stock valued at $383,000 after buying an additional 4,934 shares in the last quarter. Institutional investors and hedge funds own 64.72% of the company’s stock.
About Ramaco Resources (NASDAQ:METC)
Ramaco Resources, Inc engages in the operation and development of coal mining properties. The firm deals with metallurgical coal in central and southern West Virginia, southwestern Virginia and southwestern Pennsylvania. Its portfolio consists of Elk Creek, Berwind, RAM Mine, and Knox Creek. The company was founded by Randall W.
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