Ramaco Resources, Inc. (NASDAQ:METC) Receives Average Rating of “Moderate Buy” from Brokerages

Ramaco Resources, Inc. (NASDAQ:METC) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $27.2857.

METC has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. B. Riley Financial lowered their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday. Robert W. Baird lowered their price objective on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and increased their price target for the company from $14.00 to $15.00 in a report on Tuesday, April 21st. Finally, Jefferies Financial Group raised Ramaco Resources from a “hold” rating to a “buy” rating and reduced their target price for the stock from $33.00 to $30.00 in a report on Tuesday, January 20th.

Insider Activity at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of Ramaco Resources stock in a transaction on Friday, May 1st. The stock was sold at an average price of $14.79, for a total value of $2,958,000.00. Following the completion of the sale, the insider owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. This trade represents a 3.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 36.20% of the company’s stock.

Institutional Trading of Ramaco Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Archer Investment Corp bought a new stake in shares of Ramaco Resources in the 3rd quarter worth $33,000. Allworth Financial LP grew its holdings in shares of Ramaco Resources by 3,603.6% in the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after acquiring an additional 1,009 shares during the period. MCF Advisors LLC bought a new stake in shares of Ramaco Resources in the third quarter worth $35,000. Advisory Services Network LLC bought a new stake in shares of Ramaco Resources in the third quarter worth $38,000. Finally, Quarry LP bought a new stake in shares of Ramaco Resources in the fourth quarter worth $27,000. Institutional investors own 74.49% of the company’s stock.

Ramaco Resources Trading Down 4.5%

METC opened at $14.51 on Friday. The stock has a market cap of $973.91 million, a PE ratio of -13.19 and a beta of 1.31. The company has a quick ratio of 4.66, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. The business has a 50 day moving average of $14.57 and a 200-day moving average of $17.72. Ramaco Resources has a 52 week low of $8.51 and a 52 week high of $57.80.

Ramaco Resources (NASDAQ:METC) last released 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). The firm had revenue of $101.41 million during the quarter, compared to analysts’ expectations of $129.72 million. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.20) EPS. Equities research analysts predict that Ramaco Resources will post -0.27 earnings per share for the current fiscal year.

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.