Ramaco Resources, Inc. (NASDAQ:METC) Stock Now Rated “Hold” by Wall Street Brokerages

Ramaco Resources, Inc. (NASDAQ:METC) has been assigned an average recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $22.43.

A number of research firms have issued reports on METC. B. Riley Financial reissued a “buy” rating on shares of Ramaco Resources in a research report on Tuesday, August 18th. Weiss Ratings downgraded Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. The Goldman Sachs Group reduced their price objective on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Benchmark reduced their price target on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Ramaco Resources in a research report on Tuesday, August 18th.

Insider Activity at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of Ramaco Resources stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the transaction, the insider directly owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. This trade represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 46.07% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently modified their holdings of METC. Gratia Capital LLC acquired a new stake in shares of Ramaco Resources in the 2nd quarter worth approximately $1,826,000. State Street Corp raised its holdings in shares of Ramaco Resources by 6.7% during the second quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock valued at $40,482,000 after acquiring an additional 192,663 shares during the period. Dimensional Fund Advisors LP grew its stake in Ramaco Resources by 38.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock valued at $22,179,000 after acquiring an additional 398,626 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Ramaco Resources in the 2nd quarter worth approximately $1,486,000. Finally, Quantbot Technologies LP raised its stake in shares of Ramaco Resources by 54.1% during the 2nd quarter. Quantbot Technologies LP now owns 127,404 shares of the energy company’s stock worth $1,686,000 after purchasing an additional 44,710 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Stock Performance

Shares of METC stock opened at $7.83 on Tuesday. Ramaco Resources has a one year low of $7.77 and a one year high of $48.96. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The company has a 50 day moving average price of $10.58 and a 200 day moving average price of $12.54. The firm has a market capitalization of $496.33 million, a price-to-earnings ratio of -7.32 and a beta of 1.64.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.26). The company had revenue of $122.32 million for the quarter, compared to analyst estimates of $133.11 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. Sell-side analysts anticipate that Ramaco Resources will post -0.97 EPS for the current year.

Ramaco Resources Company Profile

Ramaco Resources, Inc is a producer of metallurgical coal, which is used primarily in the manufacture of steel and metallurgical coke. The company develops and operates coal mining properties and sells its products to domestic and international steel, coke and industrial customers.

Ramaco’s operations and development properties are located in major U.S. coal-producing regions, including southern West Virginia, southwestern Virginia and Wyoming. Its portfolio has included the Elk Creek and Berwind mining complexes in West Virginia, the RAM No.