Ramaco Resources Inc (NASDAQ:METC) – Analysts at B. Riley lowered their Q2 2020 earnings per share estimates for Ramaco Resources in a research report issued to clients and investors on Monday, June 29th. B. Riley analyst L. Pipes now expects that the energy company will post earnings per share of ($0.08) for the quarter, down from their previous estimate of ($0.07). B. Riley currently has a “Buy” rating and a $9.00 price objective on the stock. B. Riley also issued estimates for Ramaco Resources’ FY2020 earnings at ($0.05) EPS and FY2021 earnings at $0.95 EPS.
A number of other analysts also recently weighed in on METC. Zacks Investment Research downgraded Ramaco Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, June 10th. ValuEngine downgraded Ramaco Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, June 17th. Finally, Benchmark dropped their target price on Ramaco Resources from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $6.20.
NASDAQ:METC opened at $2.11 on Wednesday. The business has a 50 day moving average of $2.42 and a 200 day moving average of $2.81. The company has a market capitalization of $89.70 million, a price-to-earnings ratio of 4.22 and a beta of 0.93. Ramaco Resources has a 1-year low of $1.75 and a 1-year high of $5.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.21.
Ramaco Resources (NASDAQ:METC) last released its earnings results on Tuesday, May 12th. The energy company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. The company had revenue of $41.94 million during the quarter, compared to the consensus estimate of $40.89 million. Ramaco Resources had a return on equity of 11.93% and a net margin of 9.32%.
A number of hedge funds have recently made changes to their positions in METC. State Street Corp lifted its position in Ramaco Resources by 5.8% in the fourth quarter. State Street Corp now owns 110,632 shares of the energy company’s stock valued at $396,000 after purchasing an additional 6,102 shares during the last quarter. Barclays PLC lifted its position in Ramaco Resources by 102.0% in the fourth quarter. Barclays PLC now owns 8,382 shares of the energy company’s stock valued at $30,000 after purchasing an additional 4,232 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Ramaco Resources in the fourth quarter valued at approximately $44,000. UBS Group AG raised its holdings in shares of Ramaco Resources by 78.3% during the fourth quarter. UBS Group AG now owns 12,164 shares of the energy company’s stock valued at $44,000 after acquiring an additional 5,340 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of Ramaco Resources during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.
About Ramaco Resources
Ramaco Resources, Inc produces and sells metallurgical coal in the United States. The company's development portfolio includes the Elk Creek project consisting of approximately 20,552 acres of controlled mineral and 24 seams located in southern West Virginia; and the Berwind coal property comprising approximately 31,200 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia.
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