Ramaco Resources (NASDAQ:METC) Price Target Cut to $13.00 by Analysts at The Goldman Sachs Group

Ramaco Resources (NASDAQ:METC) had its price objective decreased by research analysts at The Goldman Sachs Group from $16.00 to $13.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the energy company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 4.29% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley cut their price target on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday. Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a research note on Thursday, June 18th. Robert W. Baird dropped their price objective on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. B. Riley Financial dropped their target price on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.43.

Ramaco Resources Stock Up 1.9%

Ramaco Resources stock traded up $0.23 during mid-day trading on Thursday, reaching $12.46. 448,145 shares of the company’s stock were exchanged, compared to its average volume of 2,063,951. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. Ramaco Resources has a twelve month low of $11.34 and a twelve month high of $57.80. The company has a market cap of $812.47 million, a P/E ratio of -11.35 and a beta of 1.35. The company has a fifty day moving average of $14.41 and a 200-day moving average of $16.09.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The company had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The firm’s revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.20) EPS. Sell-side analysts expect that Ramaco Resources will post -0.27 EPS for the current year.

Insider Buying and Selling at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were 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 in the company, valued at $78,555,014.40. This trade represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 46.07% of the stock is currently owned by insiders.

Institutional Trading of Ramaco Resources

Several hedge funds have recently modified their holdings of the business. BankChampaign National Association acquired a new position in Ramaco Resources during the first quarter worth $187,000. Royal Bank of Canada lifted its holdings in Ramaco Resources by 16.4% in the first quarter. Royal Bank of Canada now owns 81,583 shares of the energy company’s stock valued at $1,262,000 after acquiring an additional 11,474 shares during the period. Cetera Investment Advisers boosted its position in shares of Ramaco Resources by 12.2% during the 1st quarter. Cetera Investment Advisers now owns 26,850 shares of the energy company’s stock worth $415,000 after purchasing an additional 2,930 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ramaco Resources by 38.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock worth $22,179,000 after purchasing an additional 398,626 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Ramaco Resources by 8.1% during the 1st quarter. Bank of New York Mellon Corp now owns 108,724 shares of the energy company’s stock worth $1,681,000 after purchasing an additional 8,114 shares during the period. 74.49% of the stock is owned by institutional investors and hedge funds.

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.