Ramaco Resources Inc (NASDAQ:METC) – Research analysts at Seaport Global Securities reduced their FY2018 earnings per share (EPS) estimates for Ramaco Resources in a report issued on Wednesday, May 16th, Zacks Investment Research reports. Seaport Global Securities analyst M. Levin now anticipates that the energy company will post earnings of $0.89 per share for the year, down from their prior forecast of $1.12. Seaport Global Securities also issued estimates for Ramaco Resources’ FY2019 earnings at $1.02 EPS and FY2020 earnings at $1.00 EPS.
Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Wednesday, May 16th. The energy company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). The firm had revenue of $55.94 million during the quarter. Ramaco Resources had a negative net margin of 6.69% and a negative return on equity of 6.01%.
Other equities analysts have also issued reports about the stock. Credit Suisse Group increased their price objective on shares of Ramaco Resources from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, March 27th. BMO Capital Markets set a $9.00 price objective on shares of Ramaco Resources and gave the company a “buy” rating in a research report on Monday, March 26th. Zacks Investment Research raised shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 20th. B. Riley initiated coverage on shares of Ramaco Resources in a research report on Friday, June 1st. They issued a “buy” rating and a $10.00 price objective for the company. Finally, ValuEngine raised shares of Ramaco Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, June 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $9.25.
Shares of Ramaco Resources stock traded up $0.23 during midday trading on Monday, hitting $8.36. The company had a trading volume of 54,500 shares, compared to its average volume of 90,018. The firm has a market capitalization of $318.66 million, a P/E ratio of -19.83 and a beta of 1.27. Ramaco Resources has a 12-month low of $3.81 and a 12-month high of $9.35.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in Ramaco Resources by 4.7% during the 1st quarter. BlackRock Inc. now owns 313,669 shares of the energy company’s stock worth $2,256,000 after buying an additional 14,045 shares during the last quarter. Waratah Capital Advisors Ltd. purchased a new position in Ramaco Resources during the 1st quarter worth approximately $470,000. Mangrove Partners purchased a new position in Ramaco Resources during the 4th quarter worth approximately $2,008,000. Triarii Capital Management LP purchased a new position in Ramaco Resources during the 4th quarter worth approximately $4,403,000. Finally, Anchor Bolt Capital LP raised its position in Ramaco Resources by 106.8% during the 4th quarter. Anchor Bolt Capital LP now owns 1,751,907 shares of the energy company’s stock worth $12,053,000 after buying an additional 904,577 shares during the last quarter. 85.42% of the stock is owned by institutional investors.
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 18,728 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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