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

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have received an average recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $31.9286.

A number of brokerages recently issued reports on METC. Zacks Research cut shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a report on Monday, December 29th. Robert W. Baird lowered their price target on Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, February 27th. The Goldman Sachs Group reduced their price objective on Ramaco Resources from $16.00 to $14.00 and set a “sell” rating on the stock in a research note on Monday, March 2nd. Finally, Morgan Stanley assumed coverage on Ramaco Resources in a research note on Friday, December 5th. They set an “equal weight” rating and a $17.50 target price for the company.

Institutional Trading of Ramaco Resources

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Ramaco Resources during the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Ramaco Resources by 14,250.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,710 shares during the last quarter. Archer Investment Corp acquired a new stake in shares of Ramaco Resources during the 3rd quarter valued at $33,000. Allworth Financial LP boosted its holdings in shares of Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after acquiring an additional 1,009 shares in the last quarter. Finally, MCF Advisors LLC bought a new stake in Ramaco Resources during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Trading Up 0.4%

Shares of Ramaco Resources stock opened at $13.97 on Friday. The company has a quick ratio of 4.66, a current ratio of 5.46 and a debt-to-equity ratio of 0.95. Ramaco Resources has a 12-month low of $6.30 and a 12-month high of $57.80. The company has a market capitalization of $937.67 million, a price-to-earnings ratio of -14.11 and a beta of 1.41. The firm’s 50-day moving average price is $17.35 and its two-hundred day moving average price is $22.90.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Wednesday, February 25th. The energy company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.02. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The company had revenue of $108.72 million during the quarter, compared to analysts’ expectations of $143.48 million. During the same period in the previous year, the company earned $0.02 EPS. The business’s revenue for the quarter was down 25.1% compared to the same quarter last year. On average, analysts forecast that Ramaco Resources will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources declared that its board has initiated a share buyback program on Tuesday, December 23rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the energy company to repurchase up to 9.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.