Ramaco Resources, Inc. (NASDAQ:METC) Receives $46.40 Average Price Target from Brokerages

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $41.60.

A number of equities analysts have recently weighed in on the company. Baird R W upgraded Ramaco Resources to a “strong-buy” rating in a report on Thursday, October 16th. Northland Capmk upgraded Ramaco Resources to a “strong-buy” rating in a report on Wednesday, October 8th. Benchmark upped their target price on Ramaco Resources from $24.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Northland Securities set a $44.00 price objective on Ramaco Resources in a report on Wednesday, October 29th. Finally, Robert W. Baird set a $43.00 price objective on Ramaco Resources in a report on Wednesday, October 29th.

Insider Buying and Selling

In related news, Director Peter A. Leidel sold 1,600,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $18.75, for a total value of $30,000,000.00. Following the transaction, the director owned 2,502,930 shares in the company, valued at approximately $46,929,937.50. This represents a 39.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 36.20% of the company’s stock.

Institutional Trading of Ramaco Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Archer Investment Corp acquired a new stake in shares of Ramaco Resources in the third quarter worth about $33,000. Brooklyn Investment Group acquired a new position in Ramaco Resources in the 1st quarter valued at $25,000. Ameritas Investment Partners Inc. grew its stake in Ramaco Resources by 63.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company’s stock valued at $48,000 after buying an additional 1,416 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Ramaco Resources by 384.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company’s stock valued at $52,000 after buying an additional 3,110 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Ramaco Resources in the 3rd quarter valued at $134,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Price Performance

Shares of METC opened at $27.87 on Tuesday. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -41.60 and a beta of 1.28. Ramaco Resources has a fifty-two week low of $6.30 and a fifty-two week high of $57.80. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.97 and a quick ratio of 2.24. The business’s 50-day moving average is $33.44 and its 200-day moving average is $21.10.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Monday, October 27th. The energy company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. The company had revenue of $121.00 million for 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 firm’s quarterly revenue was down 27.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) EPS. Equities research analysts expect that Ramaco Resources will post 0.05 EPS for the current fiscal year.

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.