Ramaco Resources (NASDAQ:METC) Price Target Cut to $7.00 by Analysts at The Goldman Sachs Group

Ramaco Resources (NASDAQ:METC) had its price target cut by equities research analysts at The Goldman Sachs Group from $8.00 to $7.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the energy company’s stock. The Goldman Sachs Group‘s target price points to a potential upside of 9.46% from the company’s previous close.

A number of other analysts have also weighed in on METC. Benchmark lowered their price objective on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Weiss Ratings lowered shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Wall Street Zen downgraded Ramaco Resources from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Zacks Research raised shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. Finally, Morgan Stanley lowered 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 report on Tuesday, August 18th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ramaco Resources presently has a consensus rating of “Hold” and a consensus target price of $17.33.

Ramaco Resources Trading Down 5.1%

METC traded down $0.34 during trading hours on Wednesday, reaching $6.39. 2,638,549 shares of the company’s stock traded hands, compared to its average volume of 2,082,093. The firm has a 50-day moving average price of $9.53 and a 200 day moving average price of $13.39. The firm has a market capitalization of $405.38 million, a PE ratio of -5.98 and a beta of 1.46. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. Ramaco Resources has a 52-week low of $5.73 and a 52-week high of $28.67.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Tuesday, November 3rd. The energy company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.08). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. The business had revenue of $150.09 million during the quarter, compared to analysts’ expectations of $140.23 million. As a group, sell-side analysts predict that Ramaco Resources will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 4,811,360 shares in the company, valued at $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 46.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ramaco Resources

Large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new position in Ramaco Resources in the third quarter valued at about $3,986,000. Dimensional Fund Advisors LP raised its stake in shares of Ramaco Resources by 38.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock valued at $22,179,000 after acquiring an additional 398,626 shares in the last quarter. State Street Corp boosted its stake in shares of Ramaco Resources by 6.7% in the 2nd quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock valued at $40,482,000 after buying an additional 192,663 shares during the period. Gratia Capital LLC acquired a new position in Ramaco Resources during the 2nd quarter worth approximately $1,826,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Ramaco Resources during the second quarter worth $1,486,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Trending Headlines about Ramaco Resources

Here are the key news stories impacting Ramaco Resources this week:

• Positive Sentiment: Third-quarter revenue was $150.1 million, ahead of analysts’ $140.2 million estimate. Zacks Q3 earnings report
• Neutral Sentiment: B. Riley cut its price target from $24 to $17 but kept its Buy rating. The lower target is a cautionary adjustment, though it still implies substantial upside from the quoted $6.02 share price. B. Riley rating information
• Neutral Sentiment: Chairman and CEO Randall W. Atkins was elected chairman of the International Energy Agency’s Coal Industry Advisory Board, a leadership role that may raise his industry profile but does not directly change the company’s financial outlook. Announcement of Atkins’ election
• Negative Sentiment: METC reported a third-quarter loss of $0.32 per share, wider than analysts’ expected loss of $0.24 and the $0.25 loss a year earlier. Negative net margin and return on equity underscore the earnings pressure, which may outweigh the revenue beat for investors. Ramaco third-quarter results

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.