Ramaco Resources, Inc. (NASDAQ:METC) Given Average Recommendation of “Moderate Buy” by Analysts

Ramaco Resources, Inc. (NASDAQ:METC) has been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $27.2857.

Several analysts recently issued reports on the stock. Robert W. Baird cut their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. The Goldman Sachs Group raised shares of Ramaco Resources from a “sell” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $15.00 in a research report on Tuesday, April 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Ramaco Resources in a research note on Thursday, June 18th. Morgan Stanley lowered their price objective on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Finally, B. Riley Financial cut their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th.

Insider Buying and Selling at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the sale, the insider directly owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. This represents a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 46.07% of the company’s stock.

Institutional Trading of Ramaco Resources

Several institutional investors have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC raised its holdings in shares of Ramaco Resources by 0.4% during the third quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after purchasing an additional 536 shares during the period. Allworth Financial LP boosted its holdings in shares of Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after buying an additional 1,009 shares during the period. Advisory Services Network LLC bought a new stake in shares of Ramaco Resources during the 3rd quarter valued at about $38,000. Police & Firemen s Retirement System of New Jersey grew its position in shares of Ramaco Resources by 16.0% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 9,549 shares of the energy company’s stock valued at $172,000 after buying an additional 1,317 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Ramaco Resources by 51.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,917 shares of the energy company’s stock worth $71,000 after acquiring an additional 1,330 shares during the period. Institutional investors own 74.49% of the company’s stock.

Ramaco Resources Stock Performance

Shares of METC stock opened at $12.95 on Friday. The company’s fifty day moving average price is $14.52 and its two-hundred day moving average price is $16.13. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93. The firm has a market capitalization of $844.08 million, a P/E ratio of -11.77 and a beta of 1.35. Ramaco Resources has a 12 month low of $11.45 and a 12 month high of $57.80.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The business had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. During the same period in the previous year, the company earned ($0.20) earnings per share. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. On average, research analysts anticipate that Ramaco Resources will post -0.27 earnings per share for the current fiscal year.

About Ramaco Resources

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.