Ramaco Resources, Inc. (NASDAQ:METC) Receives $27.29 Consensus PT from Brokerages

Ramaco Resources, Inc. (NASDAQ:METC) has received an average rating of “Moderate Buy” from the nine research firms 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 given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $27.2857.

Several equities analysts have recently commented on METC shares. Morgan Stanley lowered their target price on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. The Goldman Sachs Group raised Ramaco Resources from a “sell” rating to a “neutral” rating and upped their target price for the company from $14.00 to $15.00 in a report on Tuesday, April 21st. Robert W. Baird lowered their target price on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, B. Riley Financial lowered their target price on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, May 13th.

Insider Activity at Ramaco Resources

In related news, Director Peter A. Leidel sold 400,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $14.41, for a total value of $5,764,000.00. Following the completion of the transaction, the director directly owned 2,284,254 shares of the company’s stock, valued at $32,916,100.14. This represents a 14.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Discovery Capital Management, sold 200,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $14.79, for a total value of $2,958,000.00. Following the completion of the transaction, the insider directly owned 5,311,360 shares of the company’s stock, valued at $78,555,014.40. This trade represents a 3.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,632,295 shares of company stock valued at $23,110,788 over the last ninety days. Corporate insiders own 46.07% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC grew its holdings in Ramaco Resources by 0.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after buying an additional 536 shares in the last quarter. AlphaQuest LLC grew its holdings 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 buying an additional 610 shares in the last quarter. Allworth Financial LP grew its holdings in Ramaco Resources by 3,603.6% in the 3rd 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 in the last quarter. Advisory Services Network LLC bought a new position in Ramaco Resources in the 3rd quarter worth approximately $38,000. Finally, US Bancorp DE grew its holdings in Ramaco Resources by 2.7% in the 3rd quarter. US Bancorp DE now owns 43,901 shares of the energy company’s stock worth $1,457,000 after buying an additional 1,171 shares in the last quarter. 74.49% of the stock is owned by institutional investors.

Ramaco Resources Price Performance

NASDAQ:METC opened at $15.26 on Wednesday. The firm has a market capitalization of $994.65 million, a PE ratio of -13.87 and a beta of 1.31. The stock has a 50 day moving average of $14.85 and a 200-day moving average of $16.44. Ramaco Resources has a 52 week low of $9.75 and a 52 week high of $57.80. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Monday, May 11th. The energy company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The company had revenue of $101.41 million for the quarter, compared to the consensus estimate of $129.72 million. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period last year, the company posted ($0.20) earnings per share. Analysts predict that Ramaco Resources will post -0.27 EPS for the current year.

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.