Ramaco Resources (NASDAQ:METC) Shares Gap Down to $12.00

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $12.00, but opened at $11.51. Ramaco Resources shares last traded at $11.37, with a volume of 1,600 shares trading hands.

Several analysts have recently weighed in on the stock. B. Riley lifted their price objective on shares of Ramaco Resources from $9.50 to $11.00 and gave the company a “buy” rating in a research note on Thursday, September 2nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, September 7th. Finally, TheStreet upgraded shares of Ramaco Resources from a “c” rating to a “b-” rating in a research note on Monday, August 9th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $8.00.

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.03 and a current ratio of 1.56. The firm has a market cap of $475.05 million, a P/E ratio of 97.91 and a beta of 1.10. The stock’s 50 day simple moving average is $8.45 and its 200 day simple moving average is $6.12.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Sunday, August 1st. The energy company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.16. The firm had revenue of $76.06 million for the quarter, compared to the consensus estimate of $52.54 million. Ramaco Resources had a net margin of 2.17% and a return on equity of 2.60%. As a group, analysts forecast that Ramaco Resources, Inc. will post 1.1 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Ramaco Resources by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 343,676 shares of the energy company’s stock worth $1,880,000 after acquiring an additional 2,500 shares during the last quarter. Morgan Stanley boosted its holdings in Ramaco Resources by 9.2% during the 2nd quarter. Morgan Stanley now owns 52,688 shares of the energy company’s stock worth $288,000 after acquiring an additional 4,441 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Ramaco Resources by 7.6% during the 2nd quarter. Renaissance Technologies LLC now owns 70,100 shares of the energy company’s stock worth $383,000 after acquiring an additional 4,934 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ramaco Resources by 18.0% in the 1st quarter. Geode Capital Management LLC now owns 57,604 shares of the energy company’s stock worth $243,000 after buying an additional 8,799 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Ramaco Resources in the 1st quarter worth about $43,000. 64.72% of the stock is currently owned by hedge funds and other institutional investors.

About Ramaco Resources (NASDAQ:METC)

Ramaco Resources, Inc engages in the operation and development of coal mining properties. The firm deals with metallurgical coal in central and southern West Virginia, southwestern Virginia and southwestern Pennsylvania. Its portfolio consists of Elk Creek, Berwind, RAM Mine, and Knox Creek. The company was founded by Randall W.

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