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

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have been assigned an average rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $34.50.

Several equities research analysts have recently weighed in on METC shares. Morgan Stanley initiated coverage on Ramaco Resources in a research report on Friday, December 5th. They set an “equal weight” rating and a $17.50 price target on the stock. The Goldman Sachs Group began coverage on shares of Ramaco Resources in a research note on Wednesday, November 19th. They set a “sell” rating and a $16.00 price objective for the company. Benchmark upped their target price on shares of Ramaco Resources from $24.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Robert W. Baird set a $43.00 price target on shares of Ramaco Resources in a report on Wednesday, October 29th. Finally, Jefferies Financial Group lowered shares of Ramaco Resources from a “buy” rating to a “hold” rating and reduced their price target for the company from $45.00 to $33.00 in a research report on Tuesday, October 28th.

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in METC. Encompass Capital Advisors LLC bought a new stake in Ramaco Resources during the first quarter valued at approximately $13,248,000. Millennium Management LLC purchased a new stake in shares of Ramaco Resources during the 3rd quarter valued at $23,451,000. Vanguard Group Inc. raised its position in shares of Ramaco Resources by 40.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock valued at $77,507,000 after buying an additional 667,199 shares in the last quarter. Bamco Inc. NY bought a new stake in shares of Ramaco Resources during the 3rd quarter worth $20,679,000. Finally, Merewether Investment Management LP purchased a new position in Ramaco Resources in the third quarter worth $18,633,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Ramaco Resources Price Performance

Ramaco Resources stock opened at $14.86 on Wednesday. The firm has a market capitalization of $980.76 million, a P/E ratio of -22.18 and a beta of 1.41. Ramaco Resources has a one year low of $6.30 and a one year high of $57.80. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.97 and a quick ratio of 2.24. The business has a fifty day moving average price of $26.90 and a 200-day moving average price of $23.12.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Monday, October 27th. The energy company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The business had revenue of $104.87 million for the quarter, compared to analysts’ expectations of $137.63 million. During the same quarter in the prior year, the firm posted ($0.03) EPS. The firm’s quarterly revenue was down 27.7% on a year-over-year basis. As a group, equities research analysts forecast that Ramaco Resources will post 0.05 EPS for the current year.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.