Ramaco Resources (NASDAQ:METC) Given New $7.00 Price Target at The Goldman Sachs Group

Ramaco Resources (NASDAQ:METC) had its price objective lowered by The Goldman Sachs Group from $8.00 to $7.00 in a report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the energy company’s stock.

Several other equities research analysts have also commented on METC. Weiss Ratings lowered shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Robert W. Baird downgraded shares of Ramaco Resources from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a research note on Tuesday, August 18th. Wall Street Zen lowered shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Morgan Stanley dropped 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. Finally, Benchmark dropped their price target on Ramaco Resources from $38.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.33.

Ramaco Resources Stock Performance

Shares of METC stock opened at $6.98 on Wednesday. Ramaco Resources has a 12 month low of $5.73 and a 12 month high of $28.67. The stock has a market cap of $442.45 million, a PE ratio of -6.12 and a beta of 1.46. 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 company’s fifty day moving average price is $9.41 and its 200-day moving average price is $13.31.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Tuesday, November 3rd. The energy company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.07). The business had revenue of $150.09 million during the quarter, compared to analysts’ expectations of $140.23 million. Ramaco Resources had a negative return on equity of 15.43% and a negative net margin of 12.24%. On average, equities analysts expect that Ramaco Resources will post -0.97 EPS for the current fiscal year.

Institutional Trading of Ramaco Resources

Institutional investors have recently bought and sold shares of the company. J. Derek Lewis & Associates Inc. raised its holdings in Ramaco Resources by 88.4% in the third quarter. J. Derek Lewis & Associates Inc. now owns 26,000 shares of the energy company’s stock worth $215,000 after buying an additional 12,200 shares during the last quarter. Alps Advisors Inc. lifted its stake in shares of Ramaco Resources by 78.5% in the third quarter. Alps Advisors Inc. now owns 27,757 shares of the energy company’s stock worth $230,000 after buying an additional 12,203 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Ramaco Resources in the third quarter worth approximately $3,986,000. State Street Corp grew its holdings in shares of Ramaco Resources by 6.7% during the second quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock valued at $40,482,000 after buying an additional 192,663 shares during the last quarter. Finally, Gratia Capital LLC purchased a new stake in shares of Ramaco Resources during the second quarter valued at approximately $1,826,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources News Summary

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

• Positive Sentiment: Third-quarter revenue of $150.1 million exceeded analysts’ estimate of $140.2 million. Zacks also cited a hammer chart pattern and improving earnings-estimate revisions as potential signs of support and a near-term reversal. Article
• Positive Sentiment: B. Riley retained its “buy” rating despite cutting its price target from $24 to $17, leaving substantial projected upside from the price cited in the report. Article
• Neutral Sentiment: Chairman and CEO Randall W. Atkins was elected chair of the International Energy Agency’s Coal Industry Advisory Board. The appointment adds industry visibility but does not by itself indicate a change in Ramaco’s financial outlook. Article
• Negative Sentiment: Ramaco reported a third-quarter loss of $0.32 per share, worse than consensus estimates of a $0.24 loss and the $0.25 loss a year earlier. The earnings shortfall and negative net margin weigh against the revenue beat. Article
• Negative Sentiment: Goldman Sachs lowered its price target from $8 to $7 and maintained a “neutral” rating, signaling limited upside at the price referenced in the report. Article

About Ramaco Resources

Ramaco Resources, Inc is a coal producer focused primarily on the development and operation of metallurgical coal mines. Its metallurgical coal is used by steelmakers in the production of coke, a key input in traditional steel manufacturing. The company also produces and sells thermal coal and related coal products where commercially appropriate.

Ramaco Resources operates mining assets in the Central Appalachian region of the United States, including properties in southern West Virginia and Virginia, and owns the Brook Mine development in Sheridan, Wyoming.