Brokerages Set Ramaco Resources, Inc. (NASDAQ:METC) PT at $32.21

Shares of Ramaco Resources, Inc. (NASDAQ:METCGet Free Report) have been given an average rating of “Hold” by the nine analysts that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, one has 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 target among brokerages that have issued ratings on the stock in the last year is $31.9286.

Several equities analysts have recently weighed in on the stock. Robert W. Baird dropped their price target on Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Morgan Stanley started coverage on Ramaco Resources in a report on Friday, December 5th. They set an “equal weight” rating and a $17.50 target price for the company. Jefferies Financial Group upgraded Ramaco Resources from a “hold” rating to a “buy” rating and decreased their price target for the company from $33.00 to $30.00 in a research report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th. Finally, Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd.

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Key Ramaco Resources News

Here are the key news stories impacting Ramaco Resources this week:

Ramaco Resources Price Performance

NASDAQ METC opened at $14.02 on Monday. The company has a 50-day moving average price of $18.89 and a two-hundred day moving average price of $23.88. The stock has a market cap of $784.56 million, a price-to-earnings ratio of -14.16 and a beta of 1.41. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95. Ramaco Resources has a 52 week low of $6.30 and a 52 week high of $57.80.

Ramaco Resources (NASDAQ:METCGet Free Report) last released its quarterly earnings results on Wednesday, February 25th. The energy company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The company had revenue of $108.72 million for the quarter, compared to the consensus estimate of $143.48 million. During the same period in the previous year, the firm earned $0.02 EPS. Ramaco Resources’s revenue was down 25.1% on a year-over-year basis. Analysts forecast that Ramaco Resources will post 0.05 EPS for the current year.

Ramaco Resources declared that its board has authorized a stock repurchase program on Tuesday, December 23rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the energy company to repurchase up to 9.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Ramaco Resources

Institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Ramaco Resources during the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its position in Ramaco Resources by 14,250.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,710 shares during the last quarter. Archer Investment Corp acquired a new position in Ramaco Resources in the 3rd quarter worth about $33,000. Allworth Financial LP raised its stake in shares of 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 purchasing an additional 1,009 shares in the last quarter. Finally, MCF Advisors LLC acquired a new stake in shares of Ramaco Resources during the 3rd quarter valued at about $35,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

About Ramaco Resources

(Get Free Report)

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.

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Analyst Recommendations for Ramaco Resources (NASDAQ:METC)

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