Ramaco Resources Inc (NASDAQ:METC) – Equities researchers at Jefferies Financial Group upped their FY2019 earnings per share (EPS) estimates for Ramaco Resources in a note issued to investors on Wednesday, June 6th, Zacks Investment Research reports. Jefferies Financial Group analyst C. Lafemina now forecasts that the energy company will post earnings of $1.99 per share for the year, up from their previous estimate of $1.71. Jefferies Financial Group also issued estimates for Ramaco Resources’ FY2020 earnings at $1.72 EPS.
A number of other research firms have also weighed in on METC. B. Riley assumed coverage on Ramaco Resources in a report on Friday, June 1st. They set a “buy” rating and a $10.00 target price for the company. ValuEngine upgraded Ramaco Resources from a “hold” rating to a “buy” rating in a report on Tuesday, June 5th. Zacks Investment Research lowered Ramaco Resources from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. Credit Suisse Group increased their price objective on Ramaco Resources from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, March 27th. Finally, BMO Capital Markets set a $9.00 price objective on Ramaco Resources and gave the company a “buy” rating in a report on Monday, March 26th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Ramaco Resources presently has a consensus rating of “Buy” and an average target price of $9.25.
Ramaco Resources opened at $8.47 on Friday, MarketBeat reports. The firm has a market cap of $329.88 million, a price-to-earnings ratio of -20.66 and a beta of 1.27. Ramaco Resources has a twelve month low of $3.81 and a twelve month high of $9.35.
Ramaco Resources (NASDAQ:METC) last posted its 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 company had revenue of $55.94 million for the quarter. Ramaco Resources had a negative return on equity of 6.01% and a negative net margin of 6.69%.
Institutional investors and hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Ramaco Resources by 90.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 24,257 shares of the energy company’s stock valued at $167,000 after purchasing an additional 11,492 shares during the last quarter. Waratah Capital Advisors Ltd. purchased a new stake in shares of Ramaco Resources during the 1st quarter valued at $470,000. Mangrove Partners purchased a new stake in shares of Ramaco Resources during the 4th quarter valued at $2,008,000. BlackRock Inc. lifted its holdings in shares of Ramaco Resources by 4.7% during the 1st quarter. BlackRock Inc. now owns 313,669 shares of the energy company’s stock valued at $2,256,000 after purchasing an additional 14,045 shares during the last quarter. Finally, Triarii Capital Management LP purchased a new stake in shares of Ramaco Resources during the 4th quarter valued at $4,403,000. Hedge funds and other institutional investors own 85.42% of the company’s stock.
Ramaco Resources Company Profile
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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