Zacks Investment Research upgraded shares of Ramaco Resources (NASDAQ:METC) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $6.00 price objective on the energy company’s stock.
According to Zacks, “Ramaco Resources Inc. is an operator and developer of metallurgical coal primarily in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. It operates principally in Charleston, West Virginia. Ramaco Resources Inc. is based in Lexington, Kentucky. “
Separately, TheStreet raised shares of ZTO Express (Cayman) from a c+ rating to a b rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Ramaco Resources currently has a consensus rating of Buy and an average price target of $8.50.
Shares of METC stock opened at $5.28 on Wednesday. The company has a fifty day simple moving average of $5.49. Ramaco Resources has a 52 week low of $4.35 and a 52 week high of $8.94. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.55. The stock has a market cap of $215.59 million, a P/E ratio of 8.12 and a beta of 1.10.
Ramaco Resources (NASDAQ:METC) last issued its earnings results on Tuesday, May 7th. The energy company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.19). Ramaco Resources had a net margin of 11.65% and a return on equity of 19.16%. The business had revenue of $57.46 million during the quarter, compared to analysts’ expectations of $71.12 million. As a group, equities analysts forecast that Ramaco Resources will post 1.39 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Ramaco Resources by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 68,665 shares of the energy company’s stock valued at $339,000 after purchasing an additional 1,849 shares in the last quarter. Northwestern Mutual Investment Management Company LLC acquired a new stake in Ramaco Resources during the 1st quarter valued at $46,000. AlpInvest Partners B.V. acquired a new stake in Ramaco Resources during the 1st quarter valued at $175,000. Dimensional Fund Advisors LP acquired a new stake in Ramaco Resources during the 4th quarter valued at $160,000. Finally, Anchor Bolt Capital LP grew its holdings in Ramaco Resources by 13.4% during the 4th quarter. Anchor Bolt Capital LP now owns 425,483 shares of the energy company’s stock valued at $2,106,000 after purchasing an additional 50,296 shares in the last quarter. 76.02% of the stock is owned by institutional investors and hedge funds.
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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