Ramaco Resources, Inc. (NASDAQ:METC) Stock Has Average Target Price of $22.43 According to Brokerages

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have received an average rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $22.43.

METC has been the subject of a number of research reports. The Goldman Sachs Group reduced their price target on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. B. Riley Financial restated a “buy” rating on shares of Ramaco Resources in a report on Tuesday, August 18th. Weiss Ratings lowered shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Robert W. Baird reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Ramaco Resources in a research report on Tuesday, August 18th. Finally, Wall Street Zen cut shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd.

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the transaction, the insider owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. This represents a 9.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 46.07% of the stock is currently owned by company insiders.

Institutional Trading of Ramaco Resources

Several institutional investors have recently modified their holdings of METC. MidFirst Bank acquired a new position in shares of Ramaco Resources in the fourth quarter valued at $54,000. Fifth Third Bancorp boosted its stake in Ramaco Resources by 1,274.6% during the first quarter. Fifth Third Bancorp now owns 6,873 shares of the energy company’s stock worth $106,000 after buying an additional 6,373 shares in the last quarter. Havemeyer Place LP acquired a new stake in Ramaco Resources during the fourth quarter worth $161,000. Caitong International Asset Management Co. Ltd increased its holdings in Ramaco Resources by 78,508.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,433 shares of the energy company’s stock valued at $170,000 after buying an additional 9,421 shares during the period. Finally, Krilogy Financial LLC bought a new stake in Ramaco Resources in the 1st quarter valued at $155,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Stock Performance

METC opened at $9.14 on Friday. The firm has a market capitalization of $579.38 million, a P/E ratio of -8.54 and a beta of 1.39. The stock’s 50 day moving average price is $11.18 and its two-hundred day moving average price is $13.19. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. Ramaco Resources has a 12-month low of $8.56 and a 12-month high of $57.80.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The company had revenue of $122.32 million during the quarter, compared to analyst estimates of $133.11 million. On average, equities analysts forecast that Ramaco Resources will post -1.02 earnings per share for the current year.

About Ramaco Resources

Ramaco Resources, Inc is a metallurgical coal producer headquartered in Lexington, Kentucky. The company develops, operates and sells metallurgical coal used primarily in the production of steel. Its products include various grades of high-quality metallurgical coal, including high-volatility and low-volatility products, as well as coal suitable for pulverized coal injection applications.

Ramaco operates mining complexes in Central Appalachia, including properties in West Virginia and Virginia.