Ramaco Resources (NASDAQ:METC) Coverage Initiated at Northland Securities

Analysts at Northland Securities started coverage on shares of Ramaco Resources (NASDAQ:METC) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $50.00 price target on the energy company’s stock. Northland Securities’ price objective indicates a potential upside of 5.93% from the company’s current price.

A number of other analysts have also commented on the company. Benchmark restated a “buy” rating and issued a $24.00 price target (up from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Zacks Research upgraded Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. Jefferies Financial Group boosted their price target on Ramaco Resources from $27.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, September 18th. B. Riley boosted their price target on Ramaco Resources from $14.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Ramaco Resources in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.25.

Ramaco Resources Stock Performance

Shares of Ramaco Resources stock opened at $47.20 on Thursday. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -104.89 and a beta of 1.37. The stock’s 50-day moving average is $28.22 and its 200-day moving average is $17.39. Ramaco Resources has a one year low of $6.30 and a one year high of $49.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Thursday, July 31st. The energy company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.07). The firm had revenue of $152.96 million during the quarter, compared to the consensus estimate of $131.55 million. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 earnings per share. Equities analysts predict that Ramaco Resources will post 0.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ramaco Resources news, Director Peter A. Leidel sold 1,600,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $18.75, for a total value of $30,000,000.00. Following the completion of the transaction, the director directly owned 2,502,930 shares in the company, valued at $46,929,937.50. This trade represents a 39.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 36.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Ramaco Resources

Several institutional investors and hedge funds have recently bought and sold shares of METC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Ramaco Resources by 3.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company’s stock valued at $427,000 after buying an additional 1,425 shares during the period. Exchange Traded Concepts LLC raised its stake in Ramaco Resources by 59.4% in the first quarter. Exchange Traded Concepts LLC now owns 69,763 shares of the energy company’s stock valued at $574,000 after buying an additional 25,992 shares during the period. Acuitas Investments LLC raised its stake in Ramaco Resources by 103.8% in the first quarter. Acuitas Investments LLC now owns 309,957 shares of the energy company’s stock valued at $2,551,000 after buying an additional 157,860 shares during the period. Victory Capital Management Inc. raised its stake in Ramaco Resources by 15.6% in the first quarter. Victory Capital Management Inc. now owns 127,062 shares of the energy company’s stock valued at $1,046,000 after buying an additional 17,121 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Ramaco Resources in the first quarter valued at approximately $806,000. Institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.