Ramaco Resources (NASDAQ:METC) Stock Price Target Cut by B. Riley Financial

Ramaco Resources (NASDAQ:METC) had its target price cut by equities research analysts at B. Riley Financial from $24.00 to $17.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. B. Riley Financial‘s price objective indicates a potential upside of 187.31% from the stock’s current price.

METC has been the topic of several other research reports. Zacks Research raised shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, October 16th. Benchmark decreased their target price on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Wall Street Zen downgraded shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. Morgan Stanley dropped their price target on shares of Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 18th. Finally, Weiss Ratings lowered shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $17.50.

Ramaco Resources Stock Down 12.2%

Shares of METC traded down $0.82 during midday trading on Wednesday, reaching $5.92. 1,404,685 shares of the stock were exchanged, compared to its average volume of 2,074,623. Ramaco Resources has a 12-month low of $5.73 and a 12-month high of $28.67. The firm has a 50 day simple moving average of $9.53 and a 200-day simple moving average of $13.39. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. The company has a market cap of $375.08 million, a price-to-earnings ratio of -5.53 and a beta of 1.46.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Tuesday, November 3rd. The energy company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.08). The firm had revenue of $150.09 million for the quarter, compared to analyst estimates of $140.23 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. Research analysts forecast that Ramaco Resources will post -0.97 EPS for the current year.

Insiders Place Their Bets

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the business’s stock in a transaction dated 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 sale, the insider owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. The trade was a 9.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 46.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers boosted its position in Ramaco Resources by 12.2% during the first 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 during the period. Van ECK Associates Corp grew its holdings in Ramaco Resources by 8.4% during the second quarter. Van ECK Associates Corp now owns 38,894 shares of the energy company’s stock valued at $515,000 after purchasing an additional 3,028 shares during the last quarter. AlphaGrep UK Ltd grew its holdings in Ramaco Resources by 19.5% during the second quarter. AlphaGrep UK Ltd now owns 18,620 shares of the energy company’s stock valued at $246,000 after purchasing an additional 3,044 shares during the last quarter. Kestra Advisory Services LLC raised its position in shares of Ramaco Resources by 21.9% in the first quarter. Kestra Advisory Services LLC now owns 17,146 shares of the energy company’s stock valued at $265,000 after purchasing an additional 3,083 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Ramaco Resources by 1,274.6% in the first quarter. Fifth Third Bancorp now owns 6,873 shares of the energy company’s stock valued at $106,000 after purchasing an additional 6,373 shares during the period. Institutional investors and hedge funds own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc is a coal producer focused primarily on the development and operation of metallurgical coal mines. Its metallurgical coal is used by steelmakers in the production of coke, a key input in traditional steel manufacturing. The company also produces and sells thermal coal and related coal products where commercially appropriate.

Ramaco Resources operates mining assets in the Central Appalachian region of the United States, including properties in southern West Virginia and Virginia, and owns the Brook Mine development in Sheridan, Wyoming.