Ramaco Resources (NASDAQ:METC) Stock Price Target Lowered at B. Riley Financial

Ramaco Resources (NASDAQ:METC) had its price objective cut by B. Riley Financial from $24.00 to $17.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the energy company’s stock.

METC has been the topic of a number of other reports. Robert W. Baird lowered shares of Ramaco Resources from an “outperform” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a research report on Tuesday, August 18th. Benchmark dropped their target price on Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Morgan Stanley dropped their target price on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 18th. The Goldman Sachs Group cut their target price on Ramaco Resources from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 23rd. Finally, Weiss Ratings downgraded Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.33.

Ramaco Resources Trading Up 3.6%

Shares of METC opened at $6.98 on Wednesday. Ramaco Resources has a twelve month low of $5.73 and a twelve month high of $28.67. The company has a market cap of $442.45 million, a P/E ratio of -6.12 and a beta of 1.46. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. The company’s fifty day simple moving average is $9.41 and its 200-day simple moving average is $13.31.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Tuesday, November 3rd. The energy company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.07). Ramaco Resources had a negative return on equity of 15.43% and a negative net margin of 12.24%. The firm had revenue of $150.09 million during the quarter, compared to the consensus estimate of $140.23 million. As a group, analysts expect that Ramaco Resources will post -0.97 EPS for the current year.

Institutional Trading of Ramaco Resources

A number of large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. purchased a new position in Ramaco Resources in the 3rd quarter worth about $3,986,000. Dimensional Fund Advisors LP lifted its holdings in Ramaco Resources by 38.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock valued at $22,179,000 after buying an additional 398,626 shares in the last quarter. State Street Corp lifted its holdings in Ramaco Resources by 6.7% during the 2nd quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock valued at $40,482,000 after buying an additional 192,663 shares in the last quarter. Gratia Capital LLC bought a new stake in Ramaco Resources during the 2nd quarter valued at about $1,826,000. Finally, Bank of New York Mellon Corp bought a new stake in Ramaco Resources during the 2nd quarter valued at about $1,486,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Ramaco Resources

Here are the key news stories impacting Ramaco Resources this week:

• Positive Sentiment: Third-quarter revenue of $150.1 million exceeded analysts’ estimate of $140.2 million. Zacks also cited a hammer chart pattern and improving earnings-estimate revisions as potential signs of support and a near-term reversal. Article
• Positive Sentiment: B. Riley retained its “buy” rating despite cutting its price target from $24 to $17, leaving substantial projected upside from the price cited in the report. Article
• Neutral Sentiment: Chairman and CEO Randall W. Atkins was elected chair of the International Energy Agency’s Coal Industry Advisory Board. The appointment adds industry visibility but does not by itself indicate a change in Ramaco’s financial outlook. Article
• Negative Sentiment: Ramaco reported a third-quarter loss of $0.32 per share, worse than consensus estimates of a $0.24 loss and the $0.25 loss a year earlier. The earnings shortfall and negative net margin weigh against the revenue beat. Article
• Negative Sentiment: Goldman Sachs lowered its price target from $8 to $7 and maintained a “neutral” rating, signaling limited upside at the price referenced in the report. Article

About Ramaco Resources

Ramaco Resources, Inc is a coal producer focused primarily on the development and operation of metallurgical coal mines. Its metallurgical coal is used by steelmakers in the production of coke, a key input in traditional steel manufacturing. The company also produces and sells thermal coal and related coal products where commercially appropriate.

Ramaco Resources operates mining assets in the Central Appalachian region of the United States, including properties in southern West Virginia and Virginia, and owns the Brook Mine development in Sheridan, Wyoming.