Ramaco Resources, Inc. (NASDAQ:METC) Receives $27.29 Average PT from Brokerages

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have been given an average rating of “Moderate Buy” by the nine analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $27.2857.

A number of equities research analysts have recently weighed in on METC shares. Robert W. Baird cut their price target on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Morgan Stanley cut their price objective on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. The Goldman Sachs Group raised Ramaco Resources from a “sell” rating to a “neutral” rating and raised their price objective for the company from $14.00 to $15.00 in a research note on Tuesday, April 21st. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Finally, B. Riley Financial cut their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th.

Ramaco Resources Stock Up 2.6%

METC opened at $15.26 on Wednesday. Ramaco Resources has a fifty-two week low of $9.75 and a fifty-two week high of $57.80. The business has a 50-day moving average of $14.85 and a 200-day moving average of $16.44. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93. The company has a market capitalization of $994.65 million, a PE ratio of -13.87 and a beta of 1.31.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The firm had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. During the same period last year, the business earned ($0.20) earnings per share. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. Equities research analysts forecast that Ramaco Resources will post -0.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Peter A. Leidel sold 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $14.41, for a total value of $5,764,000.00. Following the transaction, the director directly owned 2,284,254 shares of the company’s stock, valued at approximately $32,916,100.14. This trade represents a 14.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Discovery Capital Management, sold 200,000 shares of the firm’s 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 completion of the transaction, the insider directly owned 5,311,360 shares in the company, valued at $78,555,014.40. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,632,295 shares of company stock worth $23,110,788 over the last three months. 46.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in METC. Lunt Capital Management Inc. increased its position in Ramaco Resources by 801.3% in the 4th quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock worth $10,042,000 after buying an additional 495,999 shares during the period. Vanguard Group Inc. increased its position in Ramaco Resources by 40.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock worth $77,507,000 after buying an additional 667,199 shares during the period. Ghisallo Capital Management LLC bought a new position in Ramaco Resources in the 3rd quarter worth approximately $9,957,000. Cinctive Capital Management LP bought a new position in Ramaco Resources in the 3rd quarter worth approximately $2,707,000. Finally, Bamco Inc. NY bought a new position in Ramaco Resources in the 3rd quarter worth approximately $20,679,000. 74.49% of the stock is owned by institutional investors.

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.