B. Riley Financial Issues Pessimistic Forecast for Ramaco Resources (NASDAQ:METC) Stock Price

Ramaco Resources (NASDAQ:METC) had its price objective lowered by analysts at B. Riley Financial from $24.00 to $22.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. B. Riley Financial’s price target points to a potential upside of 43.35% from the company’s current price.

METC has been the subject of several other research reports. Morgan Stanley reduced their target price on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Robert W. Baird cut their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and raised their price target for the stock from $14.00 to $15.00 in a research note on Tuesday, April 21st. Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and cut their price target for the stock from $33.00 to $30.00 in a research note on Tuesday, January 20th. Finally, Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.29.

Ramaco Resources Stock Performance

Shares of Ramaco Resources stock traded down $1.16 during trading on Wednesday, reaching $15.35. The company’s stock had a trading volume of 1,903,299 shares, compared to its average volume of 2,263,942. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.66 and a current ratio of 5.46. The business’s fifty day moving average price is $14.61 and its 200-day moving average price is $18.03. Ramaco Resources has a one year low of $8.51 and a one year high of $57.80. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -13.97 and a beta of 1.31.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.08). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.32%. The company had revenue of $101.41 million during the quarter, compared to the consensus estimate of $129.72 million. During the same quarter in the previous year, the business posted ($0.20) EPS. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. As a group, equities research analysts predict that Ramaco Resources will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.79, for a total value of $2,958,000.00. Following the transaction, the insider directly owned 5,311,360 shares in the company, valued at $78,555,014.40. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 36.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ramaco Resources

Hedge funds have recently bought and sold shares of the company. Lunt Capital Management Inc. raised its holdings in shares of Ramaco Resources by 801.3% during the fourth quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock worth $10,042,000 after acquiring an additional 495,999 shares during the period. Vanguard Group Inc. boosted its position in shares of Ramaco Resources by 40.0% in the third quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock valued at $77,507,000 after acquiring an additional 667,199 shares during the period. Ghisallo Capital Management LLC bought a new stake in shares of Ramaco Resources in the third quarter valued at about $9,957,000. Benjamin Edwards Inc. bought a new stake in shares of Ramaco Resources in the third quarter valued at about $899,000. Finally, Cinctive Capital Management LP bought a new stake in shares of Ramaco Resources in the third quarter valued at about $2,707,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Company Profile

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.