Ramaco Resources (NASDAQ:METC) Rating Increased to Strong-Buy at Baird R W

Ramaco Resources (NASDAQ:METC) was upgraded by equities researchers at Baird R W to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other equities analysts have also weighed in on METC. B. Riley increased their target price on Ramaco Resources from $14.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Benchmark reaffirmed a “buy” rating and issued a $24.00 price target (up from $14.00) on shares of Ramaco Resources in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ramaco Resources in a research note on Wednesday, October 8th. Northland Capmk upgraded shares of Ramaco Resources to a “strong-buy” rating in a report on Wednesday, October 8th. Finally, Robert W. Baird initiated coverage on shares of Ramaco Resources in a report on Wednesday. They issued an “outperform” rating and a $63.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ramaco Resources currently has an average rating of “Moderate Buy” and an average target price of $46.40.

Ramaco Resources Price Performance

Shares of METC stock opened at $49.48 on Thursday. Ramaco Resources has a 52-week low of $6.30 and a 52-week high of $57.80. The stock has a market cap of $2.73 billion, a PE ratio of -109.96 and a beta of 1.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.36. The firm’s 50 day moving average price is $30.56 and its two-hundred day moving average price is $18.57.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Thursday, July 31st. The energy company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.07). Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. The business had revenue of $152.96 million for the quarter, compared to the consensus estimate of $131.55 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The business’s revenue was down 1.5% on a year-over-year basis. As a group, analysts forecast that Ramaco Resources will post 0.05 EPS for the current year.

Insiders Place Their Bets

In other Ramaco Resources news, Director Peter A. Leidel sold 1,600,000 shares of Ramaco Resources stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $18.75, for a total transaction of $30,000,000.00. Following the transaction, the director directly owned 2,502,930 shares in the company, valued at approximately $46,929,937.50. The trade was a 39.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 36.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in METC. Brooklyn Investment Group bought a new position in Ramaco Resources during the first quarter worth about $25,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Ramaco Resources by 63.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company’s stock valued at $48,000 after purchasing an additional 1,416 shares in the last quarter. State of Wyoming bought a new stake in shares of Ramaco Resources in the first quarter valued at about $50,000. AlphaQuest LLC lifted its holdings in shares of Ramaco Resources by 30.6% in the first quarter. AlphaQuest LLC now owns 6,332 shares of the energy company’s stock valued at $52,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Ramaco Resources by 384.0% in the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company’s stock valued at $52,000 after purchasing an additional 3,110 shares in the last quarter. 74.49% of the stock is currently owned by institutional investors.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.