The Goldman Sachs Group Cuts Ramaco Resources (NASDAQ:METC) Price Target to $13.00

Ramaco Resources (NASDAQ:METC) had its target price reduced by analysts at The Goldman Sachs Group from $16.00 to $13.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the energy company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 4.29% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. B. Riley Financial reduced their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Robert W. Baird lowered their target price on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Zacks Research upgraded Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Morgan Stanley lowered their price objective on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.43.

Ramaco Resources Price Performance

Shares of METC traded up $0.23 during mid-day trading on Thursday, hitting $12.46. 448,145 shares of the company were exchanged, compared to its average volume of 2,063,951. The stock has a market cap of $812.47 million, a price-to-earnings ratio of -11.35 and a beta of 1.35. Ramaco Resources has a 1-year low of $11.34 and a 1-year high of $57.80. The company has a 50 day moving average of $14.41 and a 200-day moving average of $16.09. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88.

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

Insider Buying and Selling

In related news, 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 in the company, valued at approximately $78,555,014.40. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 46.07% of the company’s stock.

Institutional Trading of Ramaco Resources

A number of hedge funds and other institutional investors have recently modified their holdings of METC. Lunt Capital Management Inc. boosted its position in shares of Ramaco Resources by 801.3% during the 4th quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock worth $10,042,000 after purchasing an additional 495,999 shares during the period. Ghisallo Capital Management LLC acquired a new stake in shares of Ramaco Resources in the third quarter valued at $9,957,000. Cinctive Capital Management LP purchased a new stake in shares of Ramaco Resources in the 3rd quarter valued at $2,707,000. Bamco Inc. NY purchased a new stake in shares of Ramaco Resources in the 3rd quarter valued at $20,679,000. Finally, Texas Yale Capital Corp. boosted its holdings in Ramaco Resources by 331.9% during the 4th quarter. Texas Yale Capital Corp. now owns 142,488 shares of the energy company’s stock valued at $2,565,000 after acquiring an additional 109,500 shares during the period. 74.49% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Company Profile

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.