Ramaco Resources (NASDAQ:METC) Price Target Cut to $11.00 by Analysts at The Goldman Sachs Group

Ramaco Resources (NASDAQ:METC) had its price target cut by stock analysts at The Goldman Sachs Group from $13.00 to $11.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the energy company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 18.46% from the stock’s current price.

A number of other brokerages also recently commented on METC. B. Riley Financial decreased their price target on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Morgan Stanley reduced their price objective on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Robert W. Baird decreased their target price on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Zacks Research downgraded shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.14.

Ramaco Resources Stock Down 3.7%

Ramaco Resources stock opened at $9.29 on Thursday. Ramaco Resources has a fifty-two week low of $8.56 and a fifty-two week high of $57.80. The stock has a market cap of $605.26 million, a PE ratio of -8.68 and a beta of 1.37. The firm’s 50-day simple moving average is $12.95 and its 200 day simple moving average is $14.98. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 12.80%. The firm had revenue of $122.32 million during the quarter, compared to analyst estimates of $133.11 million. Research analysts predict that Ramaco Resources will post -0.58 EPS for the current fiscal year.

Institutional Trading of Ramaco Resources

A number of large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of Ramaco Resources by 27.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company’s stock valued at $2,260,000 after buying an additional 58,304 shares during the last quarter. Empowered Funds LLC increased its holdings in Ramaco Resources by 1.8% in the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company’s stock worth $1,013,000 after acquiring an additional 2,223 shares during the last quarter. Rhumbline Advisers raised its stake in Ramaco Resources by 40.1% in the 2nd quarter. Rhumbline Advisers now owns 49,605 shares of the energy company’s stock valued at $652,000 after acquiring an additional 14,199 shares during the period. Hsbc Holdings PLC raised its stake in Ramaco Resources by 91.4% in the 2nd quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company’s stock valued at $358,000 after acquiring an additional 13,053 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in Ramaco Resources by 144.8% during the second quarter. New York State Common Retirement Fund now owns 32,039 shares of the energy company’s stock valued at $421,000 after purchasing an additional 18,951 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

About Ramaco Resources

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.