Ramaco Resources, Inc. (NASDAQ:METC) Given Consensus Rating of “Hold” by Brokerages

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have earned a consensus rating of “Hold” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $31.9286.

A number of equities analysts recently commented on METC shares. Zacks Research cut Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. The Goldman Sachs Group reduced their price objective on shares of Ramaco Resources from $16.00 to $14.00 and set a “sell” rating on the stock in a research report on Monday, March 2nd. Robert W. Baird dropped their target price on shares of Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Jefferies Financial Group upgraded Ramaco Resources from a “hold” rating to a “buy” rating and cut their price objective for the company from $33.00 to $30.00 in a research report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th.

Institutional Trading of Ramaco Resources

Institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its holdings in Ramaco Resources by 78,508.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,433 shares of the energy company’s stock worth $170,000 after buying an additional 9,421 shares in the last quarter. MidFirst Bank purchased a new stake in Ramaco Resources during the fourth quarter worth about $54,000. XTX Topco Ltd purchased a new stake in Ramaco Resources during the 4th quarter worth approximately $682,000. VARCOV Co. acquired a new position in shares of Ramaco Resources in the fourth quarter worth $1,048,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Ramaco Resources during the fourth quarter worth $2,639,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Stock Performance

Shares of NASDAQ METC opened at $15.50 on Friday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -15.66 and a beta of 1.43. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95. Ramaco Resources has a 1-year low of $6.30 and a 1-year high of $57.80. The stock’s 50-day moving average is $16.61 and its 200 day moving average is $22.55.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Wednesday, February 25th. The energy company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The business had revenue of $108.72 million during the quarter, compared to analyst estimates of $143.48 million. During the same period last year, the business posted $0.02 earnings per share. Ramaco Resources’s quarterly revenue was down 25.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Ramaco Resources will post 0.05 EPS for the current fiscal year.

Ramaco Resources declared that its board has initiated a stock buyback program on Tuesday, December 23rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the energy company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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.