Robert W. Baird Reiterates Neutral Rating for Ramaco Resources (NASDAQ:METC)

Ramaco Resources (NASDAQ:METC)‘s stock had its “neutral” rating reiterated by research analysts at Robert W. Baird in a report issued on Tuesday,Benzinga reports. They currently have a $13.00 price target on the energy company’s stock. Robert W. Baird’s price objective suggests a potential upside of 6.30% from the company’s previous close.

Several other analysts have also issued reports on the stock. Weiss Ratings lowered shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. The Goldman Sachs Group cut their price objective on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Morgan Stanley lowered their target price on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. B. Riley Financial cut their price target on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded Ramaco Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.71.

Ramaco Resources Trading Down 0.2%

Shares of METC opened at $12.23 on Tuesday. Ramaco Resources has a fifty-two week low of $8.56 and a fifty-two week high of $57.80. The business has a 50-day moving average of $12.05 and a 200 day moving average of $14.28. The firm has a market cap of $775.24 million, a P/E ratio of -11.43 and a beta of 1.37. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). The business had revenue of $122.32 million for the quarter, compared to the consensus estimate of $133.11 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. As a group, research analysts forecast that Ramaco Resources will post -0.76 EPS for the current year.

Insiders Place Their Bets

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $9.57, for a total value of $4,785,000.00. Following the sale, the insider directly owned 4,811,360 shares in the company, valued at $46,044,715.20. This represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 46.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in Ramaco Resources by 27.0% during the first quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company’s stock valued at $2,260,000 after buying an additional 58,304 shares during the period. Empowered Funds LLC increased its stake in Ramaco Resources by 1.8% in the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company’s stock worth $1,013,000 after acquiring an additional 2,223 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Ramaco Resources by 40.1% in the 2nd quarter. Rhumbline Advisers now owns 49,605 shares of the energy company’s stock valued at $652,000 after acquiring an additional 14,199 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Ramaco Resources by 91.4% in the 2nd quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company’s stock valued at $358,000 after acquiring an additional 13,053 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Ramaco Resources by 144.8% during the 2nd quarter. New York State Common Retirement Fund now owns 32,039 shares of the energy company’s stock valued at $421,000 after acquiring an additional 18,951 shares during the last quarter. Institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

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.