Ramaco Resources, Inc. (NASDAQ:METC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $27.2857.

A number of research analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Ramaco Resources from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $15.00 in a research report on Tuesday, April 21st. B. Riley Financial reduced their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Morgan Stanley reduced their target price on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Zacks Research raised shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Finally, Robert W. Baird reduced their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th.

Ramaco Resources Trading Down 5.7%

NASDAQ METC opened at $13.84 on Wednesday. The company’s fifty day simple moving average is $14.80 and its 200-day simple moving average is $16.42. Ramaco Resources has a 52 week low of $9.75 and a 52 week high of $57.80. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. The stock has a market cap of $902.02 million, a P/E ratio of -12.58 and a beta of 1.31.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Monday, May 11th. The energy company reported ($0.30) EPS 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 firm had revenue of $101.41 million for the quarter, compared to analyst estimates of $129.72 million. During the same period in the previous year, the firm posted ($0.20) earnings per share. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. Equities research analysts predict that Ramaco Resources will post -0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $14.79, for a total value of $2,958,000.00. Following the sale, the insider directly owned 5,311,360 shares of the company’s stock, valued at $78,555,014.40. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter A. Leidel sold 400,000 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $14.41, for a total transaction of $5,764,000.00. Following the completion of the sale, the director directly owned 2,284,254 shares in the company, valued at $32,916,100.14. This represents a 14.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,432,295 shares of company stock worth $20,266,788. Corporate insiders own 46.07% of the company’s stock.

Institutional Trading of Ramaco Resources

Several institutional investors have recently added to or reduced their stakes in METC. Allworth Financial LP increased its stake in Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after purchasing an additional 1,009 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Ramaco Resources during the third quarter worth about $38,000. Quarry LP bought a new position in shares of Ramaco Resources during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd grew its position in shares of Ramaco Resources by 14,250.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,710 shares during the last quarter. Finally, Spirit of America Management Corp NY bought a new position in shares of Ramaco Resources during the fourth quarter worth about $38,000. 74.49% of the stock is owned by institutional investors and hedge funds.

About Ramaco Resources

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.