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

Ramaco Resources, Inc. (NASDAQ:METC) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $37.3333.

Several brokerages have issued reports on METC. Zacks Research lowered shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. B. Riley lifted their target price on shares of Ramaco Resources from $14.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Jefferies Financial Group lowered shares of Ramaco Resources from a “buy” rating to a “hold” rating and dropped their price target for the stock from $45.00 to $33.00 in a research report on Tuesday, October 28th. Robert W. Baird set a $43.00 price target on shares of Ramaco Resources in a research note on Wednesday, October 29th. Finally, Northland Capmk upgraded Ramaco Resources to a “strong-buy” rating in a research note on Wednesday, October 8th.

Ramaco Resources Price Performance

Shares of METC stock opened at $15.65 on Friday. Ramaco Resources has a 12 month low of $6.30 and a 12 month high of $57.80. The company has a market capitalization of $1.03 billion, a P/E ratio of -23.36 and a beta of 1.28. The stock has a 50 day moving average of $31.87 and a two-hundred day moving average of $22.34. The company has a current ratio of 2.97, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Monday, October 27th. The energy company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. The business had revenue of $104.87 million during the quarter, compared to analyst estimates of $137.63 million. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.Ramaco Resources’s revenue was down 27.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share. As a group, equities analysts expect that Ramaco Resources will post 0.05 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. lifted its holdings in shares of Ramaco Resources by 400.0% during the third quarter. Sunbelt Securities Inc. now owns 2,500 shares of the energy company’s stock valued at $83,000 after acquiring an additional 2,000 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Ramaco Resources during the 3rd quarter worth about $38,000. Keystone Financial Group bought a new position in Ramaco Resources during the 3rd quarter valued at about $88,000. Scientech Research LLC bought a new position in Ramaco Resources during the 3rd quarter valued at about $582,000. Finally, Potrero Capital Research LLC acquired a new position in Ramaco Resources in the third quarter valued at about $11,575,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.