Analysts Set Ramaco Resources, Inc. (NASDAQ:METC) Price Target at $26.43

Ramaco Resources, Inc. (NASDAQ:METC) has been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation, four have issued a buy recommendation and one has given 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 $26.4286.

Several brokerages have weighed in on METC. Zacks Research lowered Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. B. Riley Financial reduced their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. Morgan Stanley dropped their price objective on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Finally, The Goldman Sachs Group cut their price objective on shares of Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th.

Ramaco Resources Stock Performance

Shares of METC opened at $9.29 on Thursday. The firm has a market cap of $605.26 million, a price-to-earnings ratio of -8.68 and a beta of 1.37. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. The business’s 50 day moving average is $12.95 and its two-hundred day moving average is $14.98. Ramaco Resources has a 52-week low of $8.56 and a 52-week high of $57.80.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). The company had revenue of $122.32 million during the quarter, compared to analyst estimates of $133.11 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 12.80%. Analysts forecast that Ramaco Resources will post -0.58 EPS for the current fiscal year.

Institutional Trading of Ramaco Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in METC. State Street Corp raised its holdings in Ramaco Resources by 10.2% during the fourth quarter. State Street Corp now owns 2,489,797 shares of the energy company’s stock worth $44,816,000 after purchasing an additional 230,197 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Ramaco Resources by 0.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company’s stock valued at $27,471,000 after buying an additional 9,860 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Ramaco Resources by 38.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock worth $22,179,000 after acquiring an additional 398,626 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Ramaco Resources by 74.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock valued at $20,896,000 after acquiring an additional 496,150 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Ramaco Resources by 20.1% during the 4th quarter. Geode Capital Management LLC now owns 978,950 shares of the energy company’s stock valued at $17,625,000 after purchasing an additional 163,971 shares in the last quarter. 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.