Ramaco Resources (NASDAQ:METC) Shares Gap Down to $14.87

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $14.87, but opened at $14.15. Ramaco Resources shares last traded at $14.93, with a volume of 1,568 shares.

METC has been the subject of several analyst reports. TheStreet raised Ramaco Resources from a “c” rating to a “b-” rating in a research report on Monday, August 9th. B. Riley upped 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. Finally, Zacks Investment Research raised 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. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Ramaco Resources currently has a consensus rating of “Buy” and an average target price of $8.00.

The stock has a market capitalization of $705.30 million, a price-to-earnings ratio of 145.36 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.03 and a current ratio of 1.56. The business has a 50-day moving average of $10.92 and a 200-day moving average of $7.21.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Sunday, August 1st. The energy company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.16. The firm had revenue of $76.06 million during the quarter, compared to analysts’ expectations of $52.54 million. Ramaco Resources had a return on equity of 2.60% and a net margin of 2.17%. On average, research analysts predict that Ramaco Resources, Inc. will post 1.19 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new stake in shares of Ramaco Resources in the 1st quarter valued at about $43,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Ramaco Resources in the 2nd quarter valued at about $70,000. Victory Capital Management Inc. acquired a new stake in shares of Ramaco Resources in the 2nd quarter valued at about $96,000. Virtu Financial LLC acquired a new stake in shares of Ramaco Resources in the 1st quarter valued at about $87,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Ramaco Resources in the 1st quarter valued at about $99,000. 64.72% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Company Profile (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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