Ramaco Resources, Inc. (NASDAQ:METC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have earned an average rating of “Hold” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $22.4286.

Several research analysts have weighed in on the company. Weiss Ratings lowered Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Morgan Stanley lowered their price target on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 18th. The Goldman Sachs Group dropped their target price on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $13.00 price target on shares of Ramaco Resources in a report on Tuesday, August 18th.

Ramaco Resources Price Performance

Ramaco Resources stock opened at $13.30 on Monday. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $843.09 million, a P/E ratio of -12.43 and a beta of 1.37. The business has a 50-day moving average of $11.68 and a 200-day moving average of $13.87. Ramaco Resources has a 1 year low of $8.56 and a 1 year high of $57.80.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.26). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. The business had revenue of $122.32 million for the quarter, compared to the consensus estimate of $133.11 million. On average, equities analysts anticipate that Ramaco Resources will post -1.02 EPS for the current year.

Insider Transactions at Ramaco Resources

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bridgeway Capital Management LLC grew its position in Ramaco Resources by 0.4% during the third quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after buying an additional 536 shares in the last quarter. Allworth Financial LP raised its stake in Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after acquiring an additional 1,009 shares in the last quarter. Advisory Services Network LLC acquired a new position in Ramaco Resources during the 3rd quarter worth approximately $38,000. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Ramaco Resources by 16.0% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 9,549 shares of the energy company’s stock valued at $172,000 after acquiring an additional 1,317 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Ramaco Resources by 51.4% in the fourth quarter. Russell Investments Group Ltd. now owns 3,917 shares of the energy company’s stock valued at $71,000 after purchasing an additional 1,330 shares during the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

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.