Ramaco Resources (NASDAQ:METC) Stock Price Up 9.6% – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC)’s share price was up 9.6% during trading on Friday . The stock traded as high as $15.33 and last traded at $15.3120. Approximately 613,165 shares traded hands during trading, a decline of 77% from the average daily volume of 2,618,342 shares. The stock had previously closed at $13.97.

Analysts Set New Price Targets

METC has been the topic of several recent analyst reports. Morgan Stanley started coverage on Ramaco Resources in a research note on Friday, December 5th. They issued an “equal weight” rating and a $17.50 price target on the stock. Robert W. Baird lowered their price objective on shares of Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Zacks Research downgraded shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Jefferies Financial Group raised shares of Ramaco Resources from a “hold” rating to a “buy” rating and cut their target price for the stock from $33.00 to $30.00 in a research note on Tuesday, January 20th. Finally, The Goldman Sachs Group decreased their price target on shares of Ramaco Resources from $16.00 to $14.00 and set a “sell” rating for the company in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.93.

Ramaco Resources Trading Up 10.7%

The company has a quick ratio of 4.66, a current ratio of 5.46 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average price of $17.35 and a 200 day moving average price of $22.90. The stock has a market capitalization of $1.04 billion, a PE ratio of -15.62 and a beta of 1.41.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Wednesday, February 25th. The energy company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.02. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.The company had revenue of $108.72 million for the quarter, compared to analysts’ expectations of $143.48 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. Ramaco Resources’s quarterly revenue was down 25.1% on a year-over-year basis. Equities analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources declared that its board has approved a stock buyback program on Tuesday, December 23rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the energy company to reacquire up to 9.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Ramaco Resources

Hedge funds have recently bought and sold shares of the business. Bridgeway Capital Management LLC boosted its position in Ramaco Resources by 0.4% during the third quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after purchasing an additional 536 shares during the period. AlphaQuest LLC lifted its stake in Ramaco Resources by 12.6% in the 3rd quarter. AlphaQuest LLC now owns 5,460 shares of the energy company’s stock worth $181,000 after purchasing an additional 610 shares in the last quarter. Archer Investment Corp bought a new position in Ramaco Resources in the 3rd quarter valued at $33,000. Allworth Financial LP raised its holdings in shares of Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after acquiring an additional 1,009 shares in the last quarter. Finally, MCF Advisors LLC purchased a new stake in shares of Ramaco Resources during the 3rd quarter valued at $35,000. 74.49% of the stock is currently owned by institutional investors.

About Ramaco Resources

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.