Brokerages Set Ramaco Resources, Inc. (NASDAQ:METC) Price Target at $27.29

Ramaco Resources, Inc. (NASDAQ:METC) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $27.2857.

Several analysts recently commented on METC shares. Morgan Stanley lowered their target price on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. The Goldman Sachs Group raised Ramaco Resources from a “sell” rating to a “neutral” rating and increased their price target for the company from $14.00 to $15.00 in a research note on Tuesday, April 21st. B. Riley Financial decreased their price target on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, Robert W. Baird decreased their price target on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th.

Ramaco Resources Stock Down 3.2%

METC opened at $13.20 on Friday. Ramaco Resources has a 12 month low of $8.51 and a 12 month high of $57.80. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93. The stock has a market cap of $885.98 million, a P/E ratio of -12.00 and a beta of 1.31. The stock’s 50 day moving average price is $14.52 and its 200 day moving average price is $17.28.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Monday, May 11th. The energy company reported ($0.30) EPS for the quarter, missing the consensus estimate 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 business had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. The firm’s revenue was down 9.7% compared to the same quarter last year. As a group, research analysts predict that Ramaco Resources will post -0.27 earnings per share for the current year.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the completion of the transaction, the insider directly owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. This trade represents a 3.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 36.20% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new stake in shares of Ramaco Resources during the 3rd quarter worth $23,451,000. Vanguard Group Inc. boosted its stake in shares of Ramaco Resources by 40.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock worth $77,507,000 after acquiring an additional 667,199 shares in the last quarter. Bamco Inc. NY bought a new stake in shares of Ramaco Resources during the 3rd quarter worth $20,679,000. Merewether Investment Management LP bought a new stake in shares of Ramaco Resources during the 3rd quarter worth $18,633,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Ramaco Resources by 74.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock worth $20,896,000 after acquiring an additional 496,150 shares in the last quarter. 74.49% of the stock is owned by institutional investors.

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.