Morgan Stanley Lowers Ramaco Resources (NASDAQ:METC) Price Target to $11.00

Ramaco Resources (NASDAQ:METC) had its target price decreased by equities research analysts at Morgan Stanley from $13.00 to $11.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has an “equal weight” rating on the energy company’s stock. Morgan Stanley’s price target indicates a potential downside of 10.06% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings downgraded Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Robert W. Baird reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Ramaco Resources in a research report on Tuesday. The Goldman Sachs Group reduced their price target on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. B. Riley Financial decreased their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Ramaco Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Ramaco Resources has a consensus rating of “Hold” and an average target price of $22.43.

Ramaco Resources Price Performance

NASDAQ:METC opened at $12.23 on Tuesday. The stock has a market capitalization of $775.24 million, a PE ratio of -11.43 and a beta of 1.37. Ramaco Resources has a 1-year low of $8.56 and a 1-year high of $57.80. The firm has a fifty day simple moving average of $12.05 and a 200 day simple moving average of $14.28. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. The firm had revenue of $122.32 million during the quarter, compared to analysts’ expectations of $133.11 million. On average, research analysts expect that Ramaco Resources will post -0.76 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the transaction, the insider owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. This trade represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 46.07% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently bought and sold shares of METC. Bridgeway Capital Management LLC increased 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 valued at $4,082,000 after buying an additional 536 shares during the period. Allworth Financial LP raised its stake in Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after acquiring an additional 1,009 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Ramaco Resources in the third quarter worth about $38,000. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Ramaco Resources by 16.0% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 9,549 shares of the energy company’s stock valued at $172,000 after purchasing an additional 1,317 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Ramaco Resources by 51.4% in the 4th quarter. Russell Investments Group Ltd. now owns 3,917 shares of the energy company’s stock valued at $71,000 after purchasing an additional 1,330 shares in the last quarter. Institutional investors own 74.49% of the company’s stock.

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.