Ramaco Resources, Inc. (NASDAQ:METC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $26.4286.

Several analysts recently weighed in on METC shares. B. Riley Financial reduced their price objective on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Morgan Stanley cut their target price on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday. Weiss Ratings reiterated a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. The Goldman Sachs Group decreased their price target on Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Zacks Research upgraded Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th.

Insiders Place Their Bets

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. This represents a 3.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 46.07% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

Several large investors have recently modified their holdings of the company. Allworth Financial LP raised its stake in Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after buying an additional 1,009 shares during the last quarter. Advisory Services Network LLC bought a new stake in Ramaco Resources during the third quarter valued at $38,000. Quarry LP acquired a new stake in Ramaco Resources during the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd grew its holdings in Ramaco Resources by 14,250.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,710 shares during the period. Finally, Spirit of America Management Corp NY bought a new position in shares of Ramaco Resources in the 4th quarter worth about $38,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Trading Down 1.2%

NASDAQ METC traded down $0.15 during trading hours on Friday, reaching $12.33. The company’s stock had a trading volume of 944,387 shares, compared to its average volume of 1,395,450. The firm has a fifty day simple moving average of $14.32 and a 200-day simple moving average of $16.05. 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 52 week low of $11.34 and a 52 week high of $57.80. The stock has a market cap of $803.61 million, a P/E ratio of -11.21 and a beta of 1.35.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The business had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The company’s revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.20) earnings per share. Equities analysts forecast that Ramaco Resources will post -0.58 earnings per share for the current fiscal year.

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.