Ramaco Resources (NASDAQ:METC) Trading 8.2% Higher – Should You Buy?

Ramaco Resources, Inc. (NASDAQ:METCGet Free Report)’s share price rose 8.2% during mid-day trading on Tuesday . The company traded as high as $20.43 and last traded at $20.16. Approximately 1,780,837 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 3,523,714 shares. The stock had previously closed at $18.64.

Trending Headlines about Ramaco Resources

Here are the key news stories impacting Ramaco Resources this week:

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Ramaco Resources in a research report on Friday, December 5th. They set an “equal weight” rating and a $17.50 price target for the company. B. Riley lifted their target price on Ramaco Resources from $14.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, The Goldman Sachs Group assumed coverage on Ramaco Resources in a research report on Wednesday, November 19th. They issued a “sell” rating and a $16.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.07.

Read Our Latest Research Report on Ramaco Resources

Ramaco Resources Trading Up 11.8%

The company has a quick ratio of 2.24, a current ratio of 2.97 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.38 billion, a PE ratio of -31.10 and a beta of 1.44. The stock’s fifty day simple moving average is $18.61 and its 200 day simple moving average is $24.85.

Ramaco Resources announced that its board has initiated a stock buyback plan on Tuesday, December 23rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the energy company to buy up to 9.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in METC. Archer Investment Corp purchased a new stake in Ramaco Resources in the 3rd quarter worth approximately $33,000. Allworth Financial LP boosted its position in shares of Ramaco Resources by 3,603.6% in the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after purchasing an additional 1,009 shares during the period. MCF Advisors LLC purchased a new stake in shares of Ramaco Resources in the third quarter worth $35,000. Advisory Services Network LLC bought a new stake in shares of Ramaco Resources during the 3rd quarter valued at $38,000. Finally, Spirit of America Management Corp NY purchased a new position in shares of Ramaco Resources during the 4th quarter valued at $38,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Ramaco Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ramaco Resources and related companies with MarketBeat.com's FREE daily email newsletter.