Ramaco Resources Inc (METC) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Ramaco Resources Inc (NASDAQ:METC) have been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $13.80.
A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded Ramaco Resources from a “sell” rating to a “hold” rating in a research report on Thursday, August 31st. ValuEngine cut Ramaco Resources from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Finally, BMO Capital Markets dropped their target price on Ramaco Resources from $11.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, November 10th.
In other news, COO Mark Allen Clemens acquired 15,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were bought at an average cost of $4.26 per share, for a total transaction of $63,900.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Dale Bauersachs acquired 25,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average price of $3.96 per share, for a total transaction of $99,000.00. The disclosure for this purchase can be found here. Insiders have bought a total of 45,868 shares of company stock worth $187,956 over the last 90 days.
A number of hedge funds have recently bought and sold shares of the stock. Alyeska Investment Group L.P. boosted its holdings in Ramaco Resources by 15.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 550,000 shares of the energy company’s stock worth $3,647,000 after buying an additional 75,000 shares during the last quarter. Foundry Partners LLC boosted its holdings in Ramaco Resources by 7.5% in the 3rd quarter. Foundry Partners LLC now owns 375,925 shares of the energy company’s stock worth $2,492,000 after buying an additional 26,200 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Ramaco Resources by 91.3% in the 2nd quarter. Vanguard Group Inc. now owns 207,800 shares of the energy company’s stock worth $1,258,000 after buying an additional 99,188 shares during the last quarter. GLG Partners LP boosted its holdings in Ramaco Resources by 73.2% in the 2nd quarter. GLG Partners LP now owns 87,327 shares of the energy company’s stock worth $528,000 after buying an additional 36,899 shares during the last quarter. Finally, State Street Corp boosted its holdings in Ramaco Resources by 89.0% in the 2nd quarter. State Street Corp now owns 61,626 shares of the energy company’s stock worth $373,000 after buying an additional 29,026 shares during the last quarter. Institutional investors own 89.26% of the company’s stock.
Ramaco Resources (NASDAQ:METC) opened at $5.04 on Monday. Ramaco Resources has a 52 week low of $3.81 and a 52 week high of $14.78.
Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Wednesday, November 8th. The energy company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.21). Ramaco Resources had a negative net margin of 35.22% and a negative return on equity of 16.08%. The company had revenue of $14.41 million for the quarter. research analysts expect that Ramaco Resources will post -0.17 EPS for the current year.
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About Ramaco Resources
Ramaco Resources, Inc is a development-stage company. The Company is a developer of metallurgical coal in central and southern West Virginia, southwestern Virginia and southwestern Pennsylvania. The Company’s project portfolio includes Elk Creek, Berwind, RAM Mine and Knox Creek. As of December 29, 2016, the Elk Creek property in southern West Virginia consisted of approximately 17,128 acres of controlled mineral.
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