Ramaco Resources, Inc. (NASDAQ:METC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $26.4286.

A number of research analysts have recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. B. Riley Financial lowered their price target on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Morgan Stanley lowered 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 research note on Wednesday. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Finally, The Goldman Sachs Group reduced their price objective on Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday.

Insider Activity at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the transaction, the insider directly owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 46.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of METC. BankChampaign National Association acquired a new position in Ramaco Resources in the first quarter worth approximately $187,000. Royal Bank of Canada lifted its holdings in Ramaco Resources by 16.4% in the 1st quarter. Royal Bank of Canada now owns 81,583 shares of the energy company’s stock worth $1,262,000 after purchasing an additional 11,474 shares during the last quarter. Cetera Investment Advisers boosted its position in Ramaco Resources by 12.2% during the first quarter. Cetera Investment Advisers now owns 26,850 shares of the energy company’s stock worth $415,000 after purchasing an additional 2,930 shares during the period. 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 valued at $22,179,000 after purchasing an additional 398,626 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Ramaco Resources by 8.1% in the 1st quarter. Bank of New York Mellon Corp now owns 108,724 shares of the energy company’s stock valued at $1,681,000 after buying an additional 8,114 shares during the last quarter. 74.49% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Trading Up 2.0%

METC opened at $12.48 on Friday. Ramaco Resources has a 52-week low of $11.34 and a 52-week high of $57.80. The firm has a market capitalization of $813.45 million, a P/E ratio of -11.35 and a beta of 1.35. 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 firm’s 50 day moving average is $14.37 and its 200-day moving average is $16.08.

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

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.