Ramaco Resources, Inc. (NASDAQ:METC) Receives Consensus Recommendation of “Hold” from Analysts

Ramaco Resources, Inc. (NASDAQ:METC) has been given an average rating of “Hold” by the nine brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $31.9286.

A number of brokerages have recently weighed in on METC. Morgan Stanley started coverage on Ramaco Resources in a research note on Friday, December 5th. They set an “equal weight” rating and a $17.50 target price on the stock. Robert W. Baird reduced their target price on shares of Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 29th. Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $33.00 to $30.00 in a research note on Tuesday, January 20th. Finally, The Goldman Sachs Group cut their price objective on shares of Ramaco Resources from $16.00 to $14.00 and set a “sell” rating for the company in a report on Monday, March 2nd.

Ramaco Resources Stock Performance

METC opened at $13.97 on Friday. The company has a quick ratio of 4.66, a current ratio of 5.46 and a debt-to-equity ratio of 0.95. The stock has a market cap of $937.67 million, a price-to-earnings ratio of -14.11 and a beta of 1.41. Ramaco Resources has a 12-month low of $6.30 and a 12-month high of $57.80. The business has a 50 day moving average of $17.35 and a 200-day moving average of $22.90.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Wednesday, February 25th. The energy company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The firm had revenue of $108.72 million during the quarter, compared to analysts’ expectations of $143.48 million. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The company’s revenue for the quarter was down 25.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.02 earnings per share. On average, equities research analysts expect that Ramaco Resources will post 0.05 earnings per share for the current year.

Ramaco Resources announced that its board has authorized a share repurchase plan on Tuesday, December 23rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the energy company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Ramaco Resources

A number of large investors have recently added to or reduced their stakes in METC. Bridgeway Capital Management LLC increased its stake in Ramaco Resources by 0.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after acquiring an additional 536 shares during the period. AlphaQuest LLC lifted its position in shares of Ramaco Resources by 12.6% during the 3rd quarter. AlphaQuest LLC now owns 5,460 shares of the energy company’s stock valued at $181,000 after acquiring an additional 610 shares during the period. Archer Investment Corp bought a new stake in shares of Ramaco Resources during the 3rd quarter valued at $33,000. Allworth Financial LP grew its holdings 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 worth $35,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Company Profile

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.