Ramaco Resources, Inc. (NASDAQ:METC) Receives Average Rating of “Hold” from Analysts

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have received a consensus rating of “Hold” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $26.4286.

Several analysts recently weighed in on METC shares. Robert W. Baird cut their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Morgan Stanley decreased their price target on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. B. Riley Financial reduced their target price on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Zacks Research cut Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Finally, The Goldman Sachs Group decreased their price objective on Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, July 9th.

Ramaco Resources Trading Down 2.9%

Shares of METC stock opened at $8.90 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93. Ramaco Resources has a 1-year low of $8.56 and a 1-year high of $57.80. The business has a 50-day moving average of $13.18 and a 200 day moving average of $15.16. The stock has a market capitalization of $580.10 million, a PE ratio of -8.09 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share 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 firm had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. During the same quarter in the prior year, the company posted ($0.20) earnings per share. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Ramaco Resources will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lunt Capital Management Inc. lifted its stake in Ramaco Resources by 801.3% in the 4th quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock worth $10,042,000 after purchasing an additional 495,999 shares in the last quarter. Texas Yale Capital Corp. raised its holdings in shares of Ramaco Resources by 331.9% during the 4th quarter. Texas Yale Capital Corp. now owns 142,488 shares of the energy company’s stock worth $2,565,000 after acquiring an additional 109,500 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Ramaco Resources during the 3rd quarter worth approximately $2,019,000. Mizuho Markets Americas LLC bought a new position in shares of Ramaco Resources during the 4th quarter valued at approximately $2,309,000. Finally, 1492 Capital Management LLC boosted its position in shares of Ramaco Resources by 32.7% during the 1st quarter. 1492 Capital Management LLC now owns 15,686 shares of the energy company’s stock valued at $243,000 after acquiring an additional 3,869 shares during the last quarter. 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.