Ramaco Resources, Inc. (NASDAQ:METC) Stock Has Consensus Price Target of $22.43 According to Brokerages

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $22.43.

A number of equities analysts have recently issued reports on the company. Benchmark reduced their price target on Ramaco Resources from $38.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Morgan Stanley lowered their price objective on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 18th. Wall Street Zen cut Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. B. Riley Financial restated a “buy” rating on shares of Ramaco Resources in a research note on Tuesday, August 18th. Finally, Robert W. Baird restated a “neutral” rating and set a $13.00 target price on shares of Ramaco Resources in a research note on Tuesday, August 18th.

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the sale, the insider owned 4,811,360 shares of the company’s stock, valued at approximately $46,044,715.20. This trade represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 46.07% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds have recently modified their holdings of the stock. MidFirst Bank acquired a new stake in Ramaco Resources in the 4th quarter worth approximately $54,000. 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. Caitong International Asset Management Co. Ltd increased its stake in Ramaco Resources by 78,508.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,433 shares of the energy company’s stock valued at $170,000 after purchasing an additional 9,421 shares in the last quarter. Krilogy Financial LLC acquired a new position in Ramaco Resources during the 1st quarter valued at approximately $155,000. Finally, Bank of New York Mellon Corp acquired a new position in Ramaco Resources during the 2nd quarter valued at approximately $102,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Stock Performance

NASDAQ METC opened at $7.64 on Tuesday. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average price of $10.53 and a 200 day moving average price of $12.47. Ramaco Resources has a 52 week low of $7.53 and a 52 week high of $48.96.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). The company had revenue of $122.32 million during the quarter, compared to analysts’ expectations of $133.11 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. Equities research analysts predict that Ramaco Resources will post -0.97 earnings per share for the current fiscal year.

About Ramaco Resources

Ramaco Resources, Inc is a producer of metallurgical coal, which is used primarily in the manufacture of steel and metallurgical coke. The company develops and operates coal mining properties and sells its products to domestic and international steel, coke and industrial customers.

Ramaco’s operations and development properties are located in major U.S. coal-producing regions, including southern West Virginia, southwestern Virginia and Wyoming. Its portfolio has included the Elk Creek and Berwind mining complexes in West Virginia, the RAM No.