Benchmark Issues Pessimistic Forecast for Ramaco Resources (NASDAQ:METC) Stock Price

Ramaco Resources (NASDAQ:METC) had its target price reduced by stock analysts at Benchmark from $38.00 to $26.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Benchmark’s target price points to a potential upside of 157.81% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Zacks Research cut Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Morgan Stanley decreased their target price on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. B. Riley Financial dropped their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d)” rating on shares of Ramaco Resources in a report on Thursday, June 18th. Finally, The Goldman Sachs Group decreased their price target on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.43.

Ramaco Resources Price Performance

NASDAQ:METC traded up $0.84 during trading hours on Thursday, reaching $10.09. 790,698 shares of the company traded hands, compared to its average volume of 2,044,257. The stock has a market cap of $657.34 million, a P/E ratio of -9.50 and a beta of 1.37. 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’s 50-day moving average is $12.95 and its 200-day moving average is $14.98. Ramaco Resources has a 1-year low of $8.56 and a 1-year high of $57.80.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). The firm had revenue of $122.32 million for the quarter, compared to analyst estimates of $133.11 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 12.80%. Equities research analysts expect that Ramaco Resources will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Ramaco Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bridgeway Capital Management LLC boosted its holdings in shares of Ramaco Resources by 0.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after acquiring an additional 536 shares in the last quarter. Allworth Financial LP lifted its stake in Ramaco Resources by 3,603.6% in the third 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 in the last quarter. Advisory Services Network LLC acquired a new position in Ramaco Resources in the 3rd quarter worth $38,000. Police & Firemen s Retirement System of New Jersey lifted its stake in Ramaco Resources by 16.0% in 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 acquiring an additional 1,317 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Ramaco Resources by 51.4% in the fourth quarter. Russell Investments Group Ltd. now owns 3,917 shares of the energy company’s stock valued at $71,000 after buying an additional 1,330 shares during the last quarter. 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.