Ramaco Resources (NASDAQ:METC) Given New $25.00 Price Target at Robert W. Baird

Ramaco Resources (NASDAQ:METC) had its price objective decreased by equities research analysts at Robert W. Baird from $30.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the energy company’s stock. Robert W. Baird’s price target would suggest a potential upside of 51.42% from the company’s current price.

METC has been the topic of a number of other research reports. The Goldman Sachs Group raised Ramaco Resources from a “sell” rating to a “neutral” rating and increased their price objective for the company from $14.00 to $15.00 in a report on Tuesday, April 21st. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Jefferies Financial Group raised Ramaco Resources from a “hold” rating to a “buy” rating and lowered their target price for the company from $33.00 to $30.00 in a report on Tuesday, January 20th. Finally, Morgan Stanley lowered their target price on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.29.

Ramaco Resources Stock Performance

Shares of NASDAQ METC opened at $16.51 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.66 and a current ratio of 5.46. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -15.01 and a beta of 1.31. The business’s 50-day simple moving average is $14.61 and its 200-day simple moving average is $18.03. Ramaco Resources has a 52 week low of $8.51 and a 52 week high of $57.80.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) EPS 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 analyst estimates of $129.72 million. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.32%. The business’s revenue was down 9.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.20) EPS. As a group, equities research analysts expect that Ramaco Resources will post -0.04 earnings per share for the current fiscal year.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the firm’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 value of $2,958,000.00. Following the sale, the insider owned 5,311,360 shares of the company’s stock, valued at $78,555,014.40. This trade represents a 3.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 36.20% of the stock is owned by company insiders.

Institutional Trading of Ramaco Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Archer Investment Corp bought a new stake in shares of Ramaco Resources in the 3rd quarter worth approximately $33,000. Allworth Financial LP lifted its position 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 worth $34,000 after acquiring an additional 1,009 shares during the period. MCF Advisors LLC bought a new stake in shares of Ramaco Resources in the 3rd quarter worth approximately $35,000. Advisory Services Network LLC bought a new stake in shares of Ramaco Resources in the 3rd quarter worth approximately $38,000. Finally, Quarry LP bought a new stake in shares of Ramaco Resources in the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

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.