Ramaco Resources, Inc. (NASDAQ:METC) Stock Has Average Target Price of $17.33 According to Analysts

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have received an average recommendation of “Hold” from the eight ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.33.

Several analysts have commented on METC shares. B. Riley Financial decreased their price objective on shares of Ramaco Resources from $24.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. Benchmark lowered their price target on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. The Goldman Sachs Group cut their price target on Ramaco Resources from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 4th. Robert W. Baird lowered Ramaco Resources from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research note on Tuesday, August 18th. Finally, Morgan Stanley decreased their price objective on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, August 18th.

Ramaco Resources Stock Up 10.4%

NASDAQ:METC opened at $7.24 on Friday. The company’s 50-day simple moving average is $8.71 and its 200-day simple moving average is $12.88. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.07 and a current ratio of 3.95. Ramaco Resources has a fifty-two week low of $5.73 and a fifty-two week high of $28.67.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Tuesday, November 3rd. The energy company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.07). Ramaco Resources had a negative return on equity of 16.07% and a negative net margin of 12.24%. The firm had revenue of $150.09 million for the quarter, compared to the consensus estimate of $140.23 million. On average, equities analysts forecast that Ramaco Resources will post -1.16 EPS for the current year.

Institutional Trading of Ramaco Resources

Several large investors have recently made changes to their positions in METC. Bank of New York Mellon Corp purchased a new position in shares of Ramaco Resources in the second quarter valued at approximately $102,000. Fifth Third Bancorp grew its position in Ramaco Resources by 1,274.6% during the 1st quarter. Fifth Third Bancorp now owns 6,873 shares of the energy company’s stock worth $106,000 after purchasing an additional 6,373 shares during the last quarter. AlpInvest Partners B.V. acquired a new position in Ramaco Resources in the 3rd quarter valued at about $120,000. BankChampaign National Association acquired a new stake in shares of Ramaco Resources in the 1st quarter worth $187,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Ramaco Resources in the 2nd quarter worth $195,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

About Ramaco Resources

Ramaco Resources, Inc. is a U.S. producer and developer of metallurgical coal, a key ingredient in steelmaking. The company mines and markets coal used by domestic and international steel producers. Its operating mines are located in central Appalachia, including West Virginia and Virginia. Ramaco also has development projects in Wyoming, including the Brook Mine, where it is evaluating coal resources and the potential for rare earth elements and other critical minerals. Founded in 2015, Ramaco has expanded its focus beyond producing metallurgical coal to exploring additional uses and materials associated with its mineral resources.