The Goldman Sachs Group Issues Pessimistic Forecast for Ramaco Resources (NASDAQ:METC) Stock Price

Ramaco Resources (NASDAQ:METC) had its price target reduced by research analysts at The Goldman Sachs Group from $16.00 to $13.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the energy company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 5.43% from the company’s previous close.

Several other brokerages have also commented on METC. Robert W. Baird dropped their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. B. Riley Financial lowered their price objective on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Morgan Stanley dropped their price objective on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. Finally, Zacks Research upgraded Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.43.

Ramaco Resources Price Performance

Shares of NASDAQ:METC opened at $12.33 on Thursday. The company has a market cap of $803.67 million, a P/E ratio of -11.21 and a beta of 1.35. The business has a fifty day simple moving average of $14.32 and a 200-day simple moving average of $16.05. Ramaco Resources has a 52 week low of $11.34 and a 52 week high of $57.80. 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 (NASDAQ:METC) last issued its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The business had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. During the same period in the previous year, the business posted ($0.20) earnings per share. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. Equities research analysts forecast that Ramaco Resources will post -0.58 EPS for the current year.

Insider Activity at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of Ramaco Resources stock in a transaction on Friday, May 1st. The shares were sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the transaction, the insider owned 5,311,360 shares in the company, valued at approximately $78,555,014.40. The trade was a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 46.07% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Lunt Capital Management Inc. grew its position in Ramaco Resources by 801.3% in the fourth quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock valued at $10,042,000 after acquiring an additional 495,999 shares in the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Ramaco Resources during the third quarter valued at approximately $9,957,000. Cinctive Capital Management LP acquired a new position in shares of Ramaco Resources during the third quarter worth $2,707,000. Bamco Inc. NY acquired a new position in shares of Ramaco Resources during the third quarter worth $20,679,000. Finally, Texas Yale Capital Corp. boosted its stake in shares of Ramaco Resources by 331.9% in the fourth quarter. Texas Yale Capital Corp. now owns 142,488 shares of the energy company’s stock valued at $2,565,000 after purchasing an additional 109,500 shares during the period. Hedge funds and other institutional investors own 74.49% of the company’s stock.

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.